Is it a Good Move to Sell Your Jackson Financial (JXN) Stake?

Curreen Capital, an investment management firm, published its third-quarter 2022 investor letter – a copy of which can be downloaded here. A quarterly portfolio return of -7.52% was recorded by the fund for the third quarter of 2022, underperforming the S&P 500 and MSCI Word Index which had a -4.88% and -6.11% gain respectively for the same period. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Curreen Capital Investments mentioned Jackson Financial Inc. (NYSE:JXN) and explained its insights for the company. Founded in 2006, Jackson Financial Inc. (NYSE:JXN) is a Michigan-based life insurance company with a $3.0 billion market capitalization. Jackson Financial Inc. (NYSE:JXN) delivered a -13.94% return since the beginning of the year, while its 12-month returns are up by 24.57%. The stock closed at $36.00 per share on October 25, 2022.

Here is what Curreen Capital Investments has to say about Jackson Financial Inc. (NYSE:JXN) in its Q3 2022 investor letter:

“We sold Jackson 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.

Pixabay/Public Domain

Our calculations show that Jackson Financial Inc. (NYSE:JXN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Jackson Financial Inc. (NYSE:JXN) was in 19 hedge fund portfolios at the end of the second quarter of 2022, compared to 30 funds in the previous quarter. Jackson Financial Inc. (NYSE:JXN) delivered a 37.25% return in the past 3 months.

In September 2022, we also shared another hedge fund’s views on Jackson Financial Inc. (NYSE:JXN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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