Jackson Financial Inc. $JXN Shares Bought by First Trust Advisors LP

First Trust Advisors LP raised its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 31.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 225,250 shares of the company's stock after purchasing an additional 53,603 shares during the quarter. First Trust Advisors LP owned 0.32% of Jackson Financial worth $23,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Jackson Financial by 5.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,929 shares of the company's stock valued at $415,000 after buying an additional 196 shares during the period. Summit Global Investments raised its position in Jackson Financial by 1.3% during the first quarter. Summit Global Investments now owns 12,280 shares of the company's stock valued at $1,298,000 after acquiring an additional 155 shares in the last quarter. Meeder Asset Management Inc. raised its position in Jackson Financial by 329.1% during the first quarter. Meeder Asset Management Inc. now owns 27,683 shares of the company's stock valued at $2,927,000 after acquiring an additional 21,231 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Jackson Financial by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company's stock valued at $429,240,000 after acquiring an additional 18,740 shares during the period. Finally, SEB Asset Management AB purchased a new stake in Jackson Financial in the 1st quarter worth approximately $988,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JXN. Weiss Ratings cut shares of Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 12th. Jefferies Financial Group raised shares of Jackson Financial from a "hold" rating to a "buy" rating and increased their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Wall Street Zen lowered shares of Jackson Financial from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Barclays lifted their price objective on shares of Jackson Financial from $136.00 to $139.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods increased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $126.40.

Jackson Financial Trading Up 1.7%

Shares of JXN stock opened at $123.12 on Wednesday. Jackson Financial Inc. has a 1-year low of $82.65 and a 1-year high of $126.69. The company has a market cap of $8.59 billion, a price-to-earnings ratio of -20.15 and a beta of 1.32. 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 stock has a 50 day simple moving average of $110.82 and a 200-day simple moving average of $110.89.

Jackson Financial Dividend Announcement

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

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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