Jackson Financial Inc. $JXN Shares Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. boosted its stake in Jackson Financial by 31.5% in the first quarter, holding 177,950 shares valued at about $18.8 million.
• Jackson Financial shares rose 5.5% to $116.87, with trading volume well above average. The stock remains near its 52-week high of $123.61.
• The company recently paid a quarterly dividend of $0.90 per share, equal to $3.60 annually for a 3.1% yield. Analysts currently have a consensus rating of Moderate Buy with an average target price of $125.40.

Candriam S.C.A. grew its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 31.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 177,950 shares of the company's stock after buying an additional 42,607 shares during the period. Candriam S.C.A. owned 0.25% of Jackson Financial worth $18,813,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in JXN. Integrated Wealth Concepts LLC raised its stake in Jackson Financial by 33.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company's stock valued at $458,000 after purchasing an additional 1,363 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Jackson Financial during the first quarter worth about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Jackson Financial by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company's stock valued at $17,664,000 after buying an additional 7,380 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Jackson Financial by 55.5% during the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company's stock valued at $81,000 after buying an additional 325 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Jackson Financial during the second quarter valued at approximately $986,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 5.5%

NYSE:JXN traded up $6.08 on Friday, hitting $116.87. 1,414,894 shares of the stock were exchanged, compared to its average volume of 591,842. The stock has a fifty day moving average of $108.03 and a 200-day moving average of $109.73. The stock has a market cap of $8.15 billion, a PE ratio of -19.13 and a beta of 1.32. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a fifty-two week low of $82.65 and a fifty-two week high of $123.61.

Jackson Financial Announces Dividend

The firm also recently declared 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. This represents a $3.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial's payout ratio is -58.92%.

Analyst Ratings Changes

Several analysts have commented on JXN shares. 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. Wall Street Zen cut Jackson Financial from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $120.00 to $125.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. Barclays upped their target price on Jackson Financial from $136.00 to $139.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Jefferies Financial Group raised Jackson Financial from a "hold" rating to a "buy" rating and raised their price target for the stock from $120.00 to $140.00 in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $125.40.

Jackson Financial 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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