Jackson Financial Inc. $JXN Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its stake in Jackson Financial Inc. (NYSE:JXN) by 44.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,858 shares of the company’s stock after selling 7,950 shares during the quarter. Royce & Associates LP’s holdings in Jackson Financial were worth $998,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Donald Smith & CO. Inc. grew its position in Jackson Financial by 2.0% during the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after buying an additional 33,040 shares during the period. American Century Companies Inc. grew its position in shares of Jackson Financial by 0.3% during the 3rd quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock valued at $153,559,000 after acquiring an additional 4,559 shares during the period. Acadian Asset Management LLC increased its stake in shares of Jackson Financial by 1.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock valued at $120,685,000 after purchasing an additional 20,212 shares in the last quarter. Norges Bank purchased a new position in Jackson Financial during the second quarter worth approximately $102,131,000. Finally, Federated Hermes Inc. grew its holdings in Jackson Financial by 6.4% in the third quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock valued at $86,494,000 after purchasing an additional 51,494 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on JXN. Evercore set a $118.00 target price on shares of Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Barclays reissued an “overweight” rating and set a $137.00 target price on shares of Jackson Financial in a report on Thursday, January 8th. Morgan Stanley set a $105.00 target price on Jackson Financial in a research report on Monday, December 15th. Finally, Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. 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’s stock. According to MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average target price of $113.00.

Jackson Financial Stock Down 1.9%

Shares of NYSE JXN opened at $109.38 on Friday. The business has a 50-day moving average of $113.81 and a two-hundred day moving average of $104.11. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of -312.51 and a beta of 1.46. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $123.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN) last posted its earnings results 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 $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $4.65 earnings per share. On average, analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be issued a dividend of $0.90 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Jackson Financial’s dividend payout ratio is currently -914.29%.

About Jackson Financial

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.