Sterling Capital Management LLC Cuts Stake in Jackson Financial Inc. $JXN

Sterling Capital Management LLC lowered its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 38.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 10,119 shares of the company’s stock after selling 6,296 shares during the quarter. Sterling Capital Management LLC’s holdings in Jackson Financial were worth $1,070,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Jackson Financial by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,041,610 shares of the company’s stock worth $431,045,000 after purchasing an additional 46,661 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Jackson Financial by 16.5% during the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after buying an additional 220,095 shares during the last quarter. Norges Bank purchased a new position in shares of Jackson Financial in the fourth quarter worth about $129,878,000. Morgan Stanley increased its holdings in shares of Jackson Financial by 6.0% in the fourth quarter. Morgan Stanley now owns 1,196,405 shares of the company’s stock worth $127,597,000 after buying an additional 67,796 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Jackson Financial by 14.8% in the 4th quarter. Federated Hermes Inc. now owns 981,046 shares of the company’s stock valued at $104,629,000 after acquiring an additional 126,611 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

Shares of JXN stock opened at $102.10 on Wednesday. The firm has a market cap of $7.12 billion, a P/E ratio of -16.71 and a beta of 1.32. Jackson Financial Inc. has a fifty-two week low of $82.65 and a fifty-two week high of $123.61. The business’s 50 day moving average price is $108.80 and its 200-day moving average price is $109.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.27 and a current ratio of 0.27.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a yield of 3.5%. Jackson Financial’s dividend payout ratio (DPR) is presently -58.92%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on JXN shares. Barclays dropped their target price on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Weiss Ratings downgraded Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $115.80.

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.