Jackson Financial Inc. $JXN Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in Jackson Financial Inc. (NYSE:JXN) by 12.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 601,151 shares of the company’s stock after acquiring an additional 65,202 shares during the quarter. Victory Capital Management Inc.’s holdings in Jackson Financial were worth $60,855,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Donald Smith & CO. Inc. grew its position in Jackson Financial by 2.0% during the 2nd 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 during the last quarter. American Century Companies Inc. increased its holdings in Jackson Financial by 0.3% in the third quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock valued at $153,559,000 after buying an additional 4,559 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Jackson Financial by 1.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after acquiring an additional 20,212 shares in the last quarter. Norges Bank acquired a new stake in shares of Jackson Financial in the 2nd quarter worth approximately $102,131,000. Finally, Federated Hermes Inc. increased its stake in Jackson Financial by 6.4% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Evercore set a $118.00 target price 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 price target on Jackson Financial in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Finally, Barclays reaffirmed an “overweight” rating and set a $137.00 price objective on shares of Jackson Financial in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $109.38 on Friday. 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 business has a 50 day moving average price of $113.81 and a two-hundred day moving average price of $104.11. The firm has a market cap of $7.73 billion, a PE ratio of -312.51 and a beta of 1.46. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $123.61.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company posted $4.65 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Sell-side analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s dividend payout ratio (DPR) is presently -914.29%.

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.