5 New Stock Picks of Billionaire Dan Loeb

In this article, we discuss 5 new stock picks of billionaire Dan Loeb. If you want our detailed analysis of these stocks, go directly to 10 New Stock Picks of Billionaire Dan Loeb. 

5. Jackson Financial Inc. (NYSE:JXN)

Third Point’s Stake Value: $47,115,000

Percentage of Third Point’s 13F Portfolio: 0.25%

Number of Hedge Fund Holders: 22

Jackson Financial Inc. (NYSE:JXN) is a Michigan-based life insurance company that primarily provides a suite of annuities as retirement savings and income solutions to retail investors in the United States. 

Jackson Financial Inc. (NYSE:JXN) is a new arrival in Dan Loeb’s Q3 portfolio, with the billionaire buying 1.8 million shares of the company, worth $47.1 million, representing 0.25% of his third quarter 13F securities. 

On November 9, Jackson Financial Inc. (NYSE:JXN) declared a $0.50 per share quarterly dividend, which was paid on December 9, to shareholders of record on November 19. The board also authorized a $300 million share repurchase program for Jackson Financial Inc. (NYSE:JXN)’s Class A common stock.

Jefferies analyst Suneet Kamath initiated coverage of Jackson Financial Inc. (NYSE:JXN) on January 25 with a Buy rating and a $52 price target. The analyst believes Jackson Financial Inc. (NYSE:JXN) is a “misunderstood story” given its limited sell-side coverage and track record as a public company, “suggesting the potential for a re-rating as investors get more comfortable with the story”.

Sessa Capital holds the largest stake in Jackson Financial Inc. (NYSE:JXN) as of Q3 2021, with 4.4 million shares worth approximately $117 million. Overall, 22 hedge funds monitored by Insider Monkey in the third quarter were long Jackson Financial Inc. (NYSE:JXN), with stakes valued at $345.7 million. 

Here is what Curreen Capital has to say about Jackson Financial Inc. (NYSE:JXN) 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.”