Skandinaviska Enskilda Banken AB publ Invests $1.26 Million in Jackson Financial Inc. $JXN

Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,400 shares of the company’s stock, valued at approximately $1,255,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its stake in Jackson Financial by 2.0% in the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock worth $150,862,000 after purchasing an additional 33,040 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Jackson Financial by 1.5% in the second quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock valued at $120,685,000 after buying an additional 20,212 shares during the last quarter. Norges Bank acquired a new position in Jackson Financial during the 2nd quarter worth about $102,131,000. Federated Hermes Inc. grew its holdings in Jackson Financial by 6.4% during the 3rd quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock worth $86,494,000 after acquiring an additional 51,494 shares during the last quarter. Finally, LSV Asset Management increased its position in Jackson Financial by 1.4% in the 3rd quarter. LSV Asset Management now owns 847,798 shares of the company’s stock valued at $85,823,000 after acquiring an additional 11,560 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

JXN stock opened at $115.74 on Friday. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $123.61. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The company has a market cap of $7.87 billion, a P/E ratio of -330.68 and a beta of 1.45. The business’s fifty day moving average is $112.99 and its 200-day moving average is $102.90.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $5.90 by $0.71. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the company posted $4.65 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be given a $0.90 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s dividend payout ratio is -1,028.57%.

Analysts Set New Price Targets

JXN has been the topic of a number of research reports. Barclays reiterated an “overweight” rating and set a $137.00 target price on shares of Jackson Financial in a research report on Thursday, January 8th. Morgan Stanley set a $105.00 price objective on Jackson Financial in a report on Monday, December 15th. Evercore set a $118.00 target price on Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and an average target price of $113.00.

Jackson Financial Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.