Lazard Asset Management LLC Has $5.62 Million Stock Position in Jackson Financial Inc. $JXN

Lazard Asset Management LLC reduced its holdings in Jackson Financial Inc. (NYSE:JXN) by 64.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,153 shares of the company’s stock after selling 96,290 shares during the period. Lazard Asset Management LLC’s holdings in Jackson Financial were worth $5,619,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in shares of Jackson Financial in the 1st quarter valued at about $10,836,000. Inceptionr LLC purchased a new stake in shares of Jackson Financial in the first quarter worth approximately $369,000. Sei Investments Co. boosted its holdings in shares of Jackson Financial by 5.4% during the first quarter. Sei Investments Co. now owns 252,839 shares of the company’s stock worth $26,730,000 after purchasing an additional 12,863 shares during the period. Lido Advisors LLC acquired a new stake in shares of Jackson Financial during the first quarter worth approximately $202,000. Finally, Walleye Capital LLC purchased a new position in Jackson Financial during the first quarter valued at approximately $1,369,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JXN has been the topic of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and lifted their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Finally, Barclays increased their price objective on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.40.

Jackson Financial Trading Up 1.3%

Shares of NYSE JXN opened at $122.00 on Friday. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of -19.97 and a beta of 1.32. The business has a 50 day simple moving average of $111.29 and a 200 day simple moving average of $110.94. Jackson Financial Inc. has a 52 week low of $82.65 and a 52 week high of $126.69. 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 announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.90 dividend. The ex-dividend date was Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a yield of 3.0%. Jackson Financial’s payout ratio is -58.92%.

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.