Amundi Lowers Stock Holdings in Jackson Financial Inc. $JXN

Key Points

• Amundi cut its Jackson Financial stake by 16.6% in the first quarter, selling 40,289 shares and retaining 202,148 shares worth approximately $21.4 million. Institutional investors collectively own nearly 90% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $126.40. Jefferies upgraded the stock to “Buy” and raised its target to $140, while Barclays and Keefe, Bruyette & Woods also increased their targets.
• Jackson Financial recently exceeded quarterly expectations, reporting $7.30 in EPS versus the $5.72 consensus estimate and revenue of $2 billion versus $1.91 billion expected. Shares opened at $125.90, near their one-year high of $126.69.

Amundi reduced its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 16.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,148 shares of the company's stock after selling 40,289 shares during the quarter. Amundi owned about 0.29% of Jackson Financial worth $21,371,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in Jackson Financial in the 4th quarter worth approximately $129,878,000. Hsbc Holdings PLC boosted its holdings in Jackson Financial by 16.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company's stock valued at $166,476,000 after purchasing an additional 220,095 shares during the period. Bank of New York Mellon Corp grew its position in shares of Jackson Financial by 31.7% during the 4th quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company's stock valued at $94,503,000 after purchasing an additional 213,131 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Jackson Financial during the 3rd quarter valued at $15,812,000. Finally, Federated Hermes Inc. grew its position in shares of Jackson Financial by 14.8% during the 4th quarter. Federated Hermes Inc. now owns 981,046 shares of the company's stock valued at $104,629,000 after purchasing an additional 126,611 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

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

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $125.90 on Tuesday. The company's fifty day moving average price is $111.97 and its 200-day moving average price is $111.08. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of -20.61 and a beta of 1.30. Jackson Financial Inc. has a one year low of $83.67 and a one year high of $126.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $1.58. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.91 billion.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source