CSM Advisors LLC Raises Position in Jackson Financial Inc. $JXN

CSM Advisors LLC raised its position in shares of Jackson Financial Inc. (NYSE:JXN) by 13.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,147 shares of the company’s stock after acquiring an additional 8,040 shares during the quarter. CSM Advisors LLC’s holdings in Jackson Financial were worth $6,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in JXN. Samalin Investment Counsel LLC raised its position in shares of Jackson Financial by 2.0% in the 3rd quarter. Samalin Investment Counsel LLC now owns 5,370 shares of the company’s stock worth $544,000 after acquiring an additional 104 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Jackson Financial by 11.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,142 shares of the company’s stock valued at $117,000 after purchasing an additional 114 shares in the last quarter. Bessemer Group Inc. grew its stake in Jackson Financial by 46.9% in the third quarter. Bessemer Group Inc. now owns 404 shares of the company’s stock worth $41,000 after purchasing an additional 129 shares during the period. Hantz Financial Services Inc. grew its stake in Jackson Financial by 23.5% in the third quarter. Hantz Financial Services Inc. now owns 689 shares of the company’s stock worth $70,000 after purchasing an additional 131 shares during the period. Finally, Bank of Montreal Can raised its holdings in Jackson Financial by 1.1% in the second quarter. Bank of Montreal Can now owns 12,857 shares of the company’s stock worth $1,142,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Down 0.1%

Jackson Financial stock opened at $104.64 on Friday. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $123.61. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of -298.97 and a beta of 1.46. The business’s fifty day simple moving average is $113.79 and its two-hundred day simple moving average is $104.51. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share 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 the consensus estimate of $1.92 billion. Jackson Financial’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.65 earnings per share. As a group, equities analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be given a dividend of $0.90 per share. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.60 annualized dividend and a yield of 3.4%. Jackson Financial’s payout ratio is currently -1,028.57%.

Analyst Upgrades and Downgrades

Several brokerages have commented on JXN. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Evercore set a $118.00 price target on shares of Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. Barclays reissued an “overweight” rating and set a $137.00 price target on shares of Jackson Financial in a research report on Thursday, January 8th. Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a report on Monday, December 15th. One equities research 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, the company has a consensus rating of “Hold” and a consensus target price of $113.00.

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.