Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Position in Jackson Financial Inc. $JXN

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Jackson Financial stake by 7% in the first quarter, selling 26,596 shares and retaining 355,485 shares worth approximately $37.6 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 of $82.65 to $126.69. The company pays a quarterly dividend of $0.90 per share, equivalent to a 3.0% annualized yield.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $126.40; recent firms raised targets as high as $140 and upgraded the stock to “buy.”

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355,485 shares of the company's stock after selling 26,596 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.51% of Jackson Financial worth $37,582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allworth Financial LP increased its holdings in Jackson Financial by 404.0% in the 3rd quarter. Allworth Financial LP now owns 252 shares of the company's stock worth $26,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC raised its position in Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company's stock worth $34,000 after acquiring an additional 143 shares during the period. Plato Investment Management Ltd purchased a new position in Jackson Financial during the fourth quarter valued at $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial during the third quarter valued at $37,000. Finally, Signature Equity Partners LLC acquired a new stake in shares of Jackson Financial in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Price Performance

Jackson Financial stock opened at $118.96 on Monday. The company has a fifty day simple moving average of $110.32 and a 200-day simple moving average of $110.78. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of -19.47 and a beta of 1.32. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a 52-week low of $82.65 and a 52-week high of $126.69.

Jackson Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen cut shares of Jackson Financial from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Keefe, Bruyette & Woods raised their price target 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 upgraded Jackson Financial from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Barclays boosted their price objective on Jackson Financial from $136.00 to $139.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 12th. 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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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