Jackson Financial Inc. $JXN Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management increased its stake in Jackson Financial by 12.2% in Q3, buying 65,202 shares to hold 601,151 shares (about 0.86% ownership) valued at roughly $60.86 million.
• Jackson Financial raised its quarterly dividend to $0.90 (annualized $3.60), implying a ~3.3% yield; shareholders of record on Mar 16 will be paid on Mar 26 (ex-dividend Mar 16).
• The company beat quarterly EPS estimates ($6.61 vs. $5.90) and reported $1.94 billion in revenue (down 2.8% YoY), while analysts maintain a consensus "Hold" rating with a $113 target price.

Victory Capital Management Inc. grew its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 12.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 601,151 shares of the company's stock after buying an additional 65,202 shares during the quarter. Victory Capital Management Inc. owned 0.86% of Jackson Financial worth $60,855,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Donald Smith & CO. Inc. lifted its position in shares of Jackson Financial by 2.0% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company's stock valued at $150,862,000 after buying an additional 33,040 shares in the last quarter. American Century Companies Inc. increased its holdings in Jackson Financial by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 1,516,935 shares of the company's stock worth $153,559,000 after acquiring an additional 4,559 shares in the last quarter. Acadian Asset Management LLC raised its position in Jackson Financial by 1.5% during the second quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company's stock worth $120,685,000 after acquiring an additional 20,212 shares during the period. Norges Bank purchased a new position in Jackson Financial during the second quarter valued at $102,131,000. Finally, Federated Hermes Inc. lifted its holdings in 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 purchasing an additional 51,494 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of JXN stock opened at $109.38 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $7.73 billion, a PE ratio of -312.51 and a beta of 1.46. The firm's 50-day moving average is $113.81 and its two-hundred day moving average is $104.11. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $123.61.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.90 by $0.71. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.92 billion. The company's revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.65 earnings per share. Analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be given a $0.90 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from Jackson Financial's previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 3.3%. Jackson Financial's dividend payout ratio is presently -914.29%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barclays reissued an "overweight" rating and set a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Jackson Financial in a research note on Monday, December 29th. Wall Street Zen upgraded Jackson Financial from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Evercore set a $118.00 target price on Jackson Financial and gave the company an "in-line" rating in a report on Tuesday, January 6th. Finally, Morgan Stanley set a $105.00 target price on Jackson Financial in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Jackson Financial presently has a consensus rating of "Hold" and a consensus target price of $113.00.

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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