Jackson Financial Inc. $JXN Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management lifted its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 65,107.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,129 shares of the company’s stock after purchasing an additional 9,115 shares during the quarter. Picton Mahoney Asset Management’s holdings in Jackson Financial were worth $923,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Jackson Financial in the second quarter valued at about $102,131,000. LSV Asset Management grew its position in Jackson Financial by 28.3% during the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock worth $74,250,000 after buying an additional 184,440 shares during the period. JPMorgan Chase & Co. grew its position in Jackson Financial by 27.5% during the second quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after buying an additional 143,091 shares during the period. Invesco Ltd. increased its holdings in Jackson Financial by 21.3% in the second quarter. Invesco Ltd. now owns 719,575 shares of the company’s stock valued at $63,891,000 after buying an additional 126,264 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Jackson Financial by 4,509.1% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 71,533 shares of the company’s stock valued at $6,351,000 after buying an additional 69,981 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

JXN stock opened at $109.38 on Friday. The company has a market cap of $7.73 billion, a PE ratio of -312.51 and a beta of 1.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $113.81 and a two-hundred day moving average price of $104.11. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $123.61.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.65 earnings per share. As a group, research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

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

Wall Street Analyst Weigh In

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

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.