Jackson Financial Inc (JXN US, +1, May 18th)
On May 11th the company reported their financial results and from May 13-16 four insiders have purchased a total of $1 million worth of stock at prices ranging from $30-32. The buyers include Laura Prieskorn (CEO, spending $150,000), Devhumar Ganguly (COO, spending $306,000), and Carrie Chelko (GC, spending $100,000) all making their first open market purchases.
Paul Myers (Vice Chairman, JHLLC) spending $422,000 at $32.46 in his second purchase following a $1.3m purchase in November at $32.95. We have had a positive rank on this stock since November 2021, originally based on Myers’ purchase and renewed the signal in December when a director bought shares at $38.
We are renewing the signal again as a +1 with this large cluster of buying. This company was spun-out from Prudential in September 2021, announced a $300m buyback in November, and revised it upwards in March 2022.
We are ranking the stock +1.