Fifth Third Bancorp Has $4.34 Million Position in Jackson Financial Inc. $JXN

Key Points

• Fifth Third Bancorp sharply increased its stake in Jackson Financial, boosting its holdings by 15,469.3% in the first quarter to 41,103 shares worth about $4.34 million.
• Jackson Financial’s stock recently traded near its 52-week high, opening at $125.95 with a market value of $8.78 billion and a 2.9% annualized dividend yield.
• Analyst sentiment is generally positive, with a Moderate Buy consensus and a price target of $126.40, while several firms recently raised their targets or upgraded the stock.

Fifth Third Bancorp raised its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 15,469.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,103 shares of the company's stock after purchasing an additional 40,839 shares during the quarter. Fifth Third Bancorp owned 0.06% of Jackson Financial worth $4,345,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company's stock worth $26,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company's stock valued at $34,000 after buying an additional 143 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of Jackson Financial in the fourth quarter valued at about $35,000. Advisory Services Network LLC bought a new position in shares of Jackson Financial during the third quarter worth about $37,000. Finally, Employees Retirement System of Texas bought a new position in shares of Jackson Financial during the third quarter worth about $38,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Price Performance

JXN stock opened at $125.95 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The company's 50-day moving average is $109.14 and its 200-day moving average is $110.28. The stock has a market capitalization of $8.78 billion, a PE ratio of -20.61 and a beta of 1.32. Jackson Financial Inc. has a 1 year low of $82.65 and a 1 year high of $126.69.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial's dividend payout ratio (DPR) is -58.92%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on JXN shares. Weiss Ratings cut Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Barclays upped their price objective on shares of Jackson Financial from $136.00 to $139.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Jefferies Financial Group raised shares of Jackson Financial from a "hold" rating to a "buy" rating and lifted their target price for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $125.00 to $130.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Finally, Wall Street Zen cut shares of Jackson Financial from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, two have given 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 a consensus price target 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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