5 Cheapest Stocks With Biggest Upside

1. Jackson Financial Inc. (NYSE:JXN)

Number of Hedge Fund Holders: 24    

Share Price as of December 18: $33.88

Jackson Financial Inc. (NYSE:JXN) primarily provides a suite of annuities to retail investors in the United States. On November 9, the firm posted earnings for the third quarter of 2022, reporting earnings per share of $4.24, beating market estimates by $1.34. The revenue over the period was $4 billion, up more than 156% compared to the revenue over the same period last year and beating estimates by $3 billion. The firm revealed that it had returned a whopping $88 million to shareholders in the quarter, and expected to deliver at or above the midpoint of targeted $425-$525 million capital return range for 2022. The firm also has a more than 6% dividend yield, making it a smart buy in a slow market. 

At the end of the third quarter of 2022, 24 hedge funds in the database of Insider Monkey held stakes worth $272.6 million in Jackson Financial Inc. (NYSE:JXN), compared to 19 in the previous quarter worth $186.4 million.

In its Q3 2022 investor letter, Curreen Capital, an asset management firm, highlighted a few stocks and Jackson Financial Inc. (NYSE:JXN) was one of them. Here is what the fund said:

“We sold Jackson Financial Inc. (NYSE:JXN) in large part because the inverted yield curve signals that a weak stock market and high volatility are likely to continue. High volatility increases Jackson’s cost of hedging the annuities that it has sold, and a weak stock market makes it difficult to sell new variable annuities. These operational headwinds make Jackson a weed. We sold at $31.11 per share.

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