Kestra Advisory Services LLC boosted its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 29.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,593 shares of the company's stock after purchasing an additional 8,057 shares during the quarter. Kestra Advisory Services LLC owned about 0.05% of Jackson Financial worth $3,763,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JXN. Accordant Advisory Group Inc purchased a new stake in Jackson Financial in the 4th quarter valued at approximately $1,678,000. Horizon Investments LLC acquired a new stake in Jackson Financial in the 4th quarter worth about $2,638,000. Artemis Investment Management LLP purchased a new stake in Jackson Financial in the fourth quarter valued at approximately $2,696,000. Blue Water Asset Management purchased a new stake in shares of Jackson Financial during the 4th quarter valued at $3,991,000. Finally, LSV Asset Management boosted its holdings in Jackson Financial by 5.8% in the fourth quarter. LSV Asset Management now owns 896,939 shares of the company's stock valued at $95,659,000 after acquiring an additional 49,141 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on JXN. Weiss Ratings downgraded 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 upgraded Jackson Financial from a "hold" rating to a "buy" rating and increased their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Barclays lifted their price target on Jackson Financial from $136.00 to $139.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price target on 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 lowered Jackson Financial from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. One research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $126.40.
Get Our Latest Stock Analysis on Jackson Financial
Jackson Financial Price Performance
NYSE:JXN opened at $125.95 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The business's 50-day moving average price is $109.14 and its 200 day moving average price is $110.28. Jackson Financial Inc. has a 52-week low of $82.65 and a 52-week high of $126.69. The firm has a market cap of $8.78 billion, a P/E ratio of -20.61 and a beta of 1.32.
Jackson Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial's dividend payout ratio is -58.92%.
Jackson Financial Profile
(
Free Report)
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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