Artemis Investment Management LLP Makes New $2.70 Million Investment in Jackson Financial Inc. $JXN

Key Points

• Artemis Investment Management LLP opened a new position in Jackson Financial in Q4, buying 25,282 shares valued at approximately $2.70 million, and institutional investors now own about 89.96% of the company.
• Jackson Financial beat Q4 estimates with EPS of $6.61 (vs. $5.90 est.) and revenue of $1.94B, and raised its quarterly dividend to $0.90 (annualized $3.60, ~3.1% yield), despite a negative P/E of -327 and a reported dividend payout ratio of -1,028.57%.

Artemis Investment Management LLP acquired a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,282 shares of the company's stock, valued at approximately $2,696,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jackson Creek Investment Advisors LLC acquired a new position in Jackson Financial during the 3rd quarter valued at about $2,009,000. Victory Capital Management Inc. raised its stake in shares of Jackson Financial by 12.2% in the third quarter. Victory Capital Management Inc. now owns 601,151 shares of the company's stock worth $60,855,000 after purchasing an additional 65,202 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Jackson Financial in the third quarter valued at approximately $3,373,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Jackson Financial in the third quarter valued at approximately $1,255,000. Finally, Federated Hermes Inc. boosted its position in shares of Jackson Financial by 6.4% during the third quarter. Federated Hermes Inc. now owns 854,435 shares of the company's stock valued at $86,494,000 after buying an additional 51,494 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Stock Performance

Shares of JXN stock opened at $114.47 on Friday. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of -327.05 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. Jackson Financial Inc. has a 52 week low of $78.76 and a 52 week high of $123.61. The firm's 50-day simple moving average is $108.14 and its two-hundred day simple moving average is $106.40.

Jackson Financial (NYSE:JXN - Get Free Report) last released its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates 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. During the same period in the prior year, the company earned $4.65 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Monday, March 16th were given a $0.90 dividend. This is an increase from Jackson Financial's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, March 16th. Jackson Financial's dividend payout ratio (DPR) is -1,028.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Evercore set a $118.00 price target on Jackson Financial and gave the stock an "in-line" rating in a report on Tuesday, January 6th. Wall Street Zen downgraded shares of Jackson Financial from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Keefe, Bruyette & Woods reduced their target price on shares of Jackson Financial from $123.00 to $120.00 and set a "market perform" rating for the company in a research note on Friday, April 10th. Finally, Barclays lowered their target price on shares of Jackson Financial from $138.00 to $136.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Jackson Financial currently has an average rating of "Hold" and an average price target of $114.80.

About Jackson Financial

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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