Arrowstreet Capital Limited Partnership Sells 165,725 Shares of Jackson Financial Inc. $JXN

Key Points

• Arrowstreet Capital cut its Jackson Financial stake by 16.8%, selling 165,725 shares and retaining 819,848 shares valued at approximately $86.7 million. Institutional investors collectively own nearly 90% of the company.
• Jackson Financial shares opened at $118.96, near the upper end of their 52-week range, while the company maintains a quarterly dividend of $0.90 per share, equivalent to a 3.0% yield.
• Analyst sentiment remains moderately positive: Jackson Financial has a consensus rating of “Moderate Buy” and an average price target of $126.40, with recent targets ranging as high as $140.

Arrowstreet Capital Limited Partnership reduced its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 16.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 819,848 shares of the company's stock after selling 165,725 shares during the period. Arrowstreet Capital Limited Partnership owned 1.16% of Jackson Financial worth $86,674,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Jackson Financial by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company's stock worth $429,240,000 after buying an additional 18,740 shares during the period. Hsbc Holdings PLC boosted its stake in Jackson Financial by 16.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company's stock valued at $166,476,000 after acquiring an additional 220,095 shares during the last quarter. Norges Bank acquired a new stake in Jackson Financial during the 4th quarter worth $129,878,000. Morgan Stanley grew its holdings in Jackson Financial by 6.0% during the 4th quarter. Morgan Stanley now owns 1,196,405 shares of the company's stock worth $127,597,000 after acquiring an additional 67,796 shares during the period. Finally, Federated Hermes Inc. raised 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 acquiring an additional 126,611 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Down 0.3%

Jackson Financial stock opened at $118.96 on Monday. The stock has a market capitalization of $8.30 billion, a PE ratio of -19.47 and a beta of 1.32. Jackson Financial Inc. has a twelve month low of $82.65 and a twelve month high of $126.69. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $110.32 and a 200-day moving average of $110.78.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial's dividend payout ratio (DPR) is currently -58.92%.

Wall Street Analyst Weigh In

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

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.

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