Kingsview Wealth Management LLC Makes New Investment in Jackson Financial Inc. $JXN

Kingsview Wealth Management LLC bought a new stake in shares of Jackson Financial Inc. (NYSE:JXN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,318 shares of the company’s stock, valued at approximately $3,373,000.

Other large investors have also modified their holdings of the company. Integrated Wealth Concepts LLC increased its holdings in Jackson Financial by 33.2% during the first quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock valued at $458,000 after buying an additional 1,363 shares during the period. Woodline Partners LP purchased a new stake in Jackson Financial during the first quarter worth $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Jackson Financial by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock valued at $17,664,000 after acquiring an additional 7,380 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Jackson Financial by 10.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 21,083 shares of the company’s stock valued at $1,872,000 after acquiring an additional 2,034 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of Jackson Financial by 62.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock worth $50,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a report on Monday, December 15th. Barclays reaffirmed an “overweight” rating and issued a $137.00 price objective on shares of Jackson Financial in a research report on Thursday, January 8th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $114.79 on Thursday. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $123.61. The company has a market cap of $7.80 billion, a PE ratio of -327.96 and a beta of 1.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. The business has a 50-day simple moving average of $113.73 and a two-hundred day simple moving average of $103.95.

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

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be issued a $0.90 dividend. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 16th. Jackson Financial’s dividend payout ratio is -914.29%.

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.