Hillsdale Investment Management Inc. Has $7.56 Million Stock Holdings in Jackson Financial Inc. $JXN

Hillsdale Investment Management Inc. raised its position in Jackson Financial Inc. (NYSE:JXN) by 23.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,700 shares of the company’s stock after acquiring an additional 14,000 shares during the period. Hillsdale Investment Management Inc. owned about 0.11% of Jackson Financial worth $7,562,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of JXN. NewEdge Wealth LLC raised its stake in shares of Jackson Financial by 12.4% in the third quarter. NewEdge Wealth LLC now owns 13,973 shares of the company’s stock valued at $1,309,000 after purchasing an additional 1,545 shares in the last quarter. CenterBook Partners LP increased its holdings in Jackson Financial by 70.9% in the 3rd quarter. CenterBook Partners LP now owns 15,329 shares of the company’s stock valued at $1,552,000 after buying an additional 6,360 shares during the period. GSA Capital Partners LLP raised its stake in shares of Jackson Financial by 7.1% in the 3rd quarter. GSA Capital Partners LLP now owns 8,726 shares of the company’s stock valued at $883,000 after buying an additional 577 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Jackson Financial during the 3rd quarter worth about $1,255,000. Finally, Denali Advisors LLC boosted its position in shares of Jackson Financial by 1.8% during the 3rd quarter. Denali Advisors LLC now owns 70,700 shares of the company’s stock valued at $7,157,000 after acquiring an additional 1,254 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Up 1.8%

NYSE JXN opened at $115.74 on Friday. The stock’s 50 day simple moving average is $112.99 and its 200 day simple moving average is $102.78. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $123.61. The firm has a market cap of $7.87 billion, a PE ratio of -330.68 and a beta of 1.45. 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 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 business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $4.65 EPS. Jackson Financial’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, March 16th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s dividend payout ratio is 44.26%.

Analyst Ratings Changes

Several research analysts recently issued reports on JXN shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Morgan Stanley set a $105.00 target price on Jackson Financial in a research report on Monday, December 15th. Evercore set a $118.00 price target on Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Finally, Barclays reissued an “overweight” rating and set a $137.00 price objective 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 given a Hold rating to the company’s stock. According to MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Company 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.