Here’s Why Curreen Capital Labels Jackson Financial (JXN) “More of a Flower”

Curreen Capital, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly portfolio return of 14.61% was recorded by the fund for the fourth quarter of 2021, outperforming the S&P 500 and MSCI Word Index which had an 11.03% and 7.84% gain respectively for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Curreen Capital, in its Q4 2021 investor letter, mentioned Jackson Financial Inc. (NYSE: JXN) and discussed its stance on the firm. Jackson Financial Inc. is a Michigan-based life insurance company with a $4.0 billion market capitalization. JXN delivered a 5.97% return for the past month and it closed at $42.65 per share on January 18, 2022.

Here is what Curreen Capital has to say about Jackson Financial Inc. in its Q4 2021 investor letter:

“We cut a weed with Conduent to water a flower with Jackson. We added to Jackson, which has blossomed into a flower. In our Q3 letter I highlighted the limited information on this recent spinoff – and management has capably addressed many of the unknowns. On capital allocation, Jackson initiated a dividend and a share repurchase plan for about 10% of the company. Management then moved quickly and bought back at least 5% of Jackson’s shares at very attractive prices. Management refinanced its short-term debt on attractive terms. A director and an executive also bought stock in the quarter. Each of these actions made Jackson more of a flower. We averaged up (paying $32.78/share) and made Jackson our largest holding.”

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Our calculations show that Jackson Financial Inc. (NYSE: JXN) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. JXN was in 22 hedge fund portfolios at the end of the third quarter of 2021. Jackson Financial Inc. (NYSE: JXN) delivered a 47.47% return in the past 3 months.

You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.