Kennedy Capital Management LLC Buys New Shares in Jackson Financial Inc. $JXN

Kennedy Capital Management LLC purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) in the third quarter, according to its most recent filing with the SEC. The firm purchased 156,142 shares of the company’s stock, valued at approximately $15,806,000. Kennedy Capital Management LLC owned 0.22% of Jackson Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Martingale Asset Management L P increased its holdings in shares of Jackson Financial by 239.6% during the third quarter. Martingale Asset Management L P now owns 19,879 shares of the company’s stock valued at $2,012,000 after acquiring an additional 14,025 shares in the last quarter. Employees Retirement System of Texas bought a new position in Jackson Financial in the 3rd quarter worth about $38,000. Sei Investments Co. raised its holdings in shares of Jackson Financial by 32.2% in the 3rd quarter. Sei Investments Co. now owns 234,806 shares of the company’s stock valued at $23,770,000 after acquiring an additional 57,248 shares in the last quarter. UBS Group AG raised its holdings in shares of Jackson Financial by 0.8% in the 3rd quarter. UBS Group AG now owns 141,308 shares of the company’s stock valued at $14,305,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its position in shares of Jackson Financial by 5.7% during the 3rd quarter. Capital Fund Management S.A. now owns 119,326 shares of the company’s stock valued at $12,079,000 after acquiring an additional 6,442 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Jackson Financial Trading Up 0.6%

Shares of Jackson Financial stock traded up $0.67 during trading on Friday, reaching $105.38. 51,684 shares of the stock were exchanged, compared to its average volume of 599,574. 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 firm has a market cap of $7.45 billion, a price-to-earnings ratio of -300.82 and a beta of 1.46. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $123.61. The stock’s fifty day moving average is $113.85 and its 200 day moving average is $104.42.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the company earned $4.65 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts expect 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 dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.4%. 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 payout ratio is presently -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.