Meeder Asset Management Inc. Has $2.93 Million Stock Holdings in Jackson Financial Inc. $JXN

Key Points

• Meeder Asset Management increased its Jackson Financial stake by 329.1% in the first quarter, ending with 27,683 shares valued at about $2.93 million.
• Other institutions also adjusted holdings in JXN, and overall institutional ownership remains high at 89.96%.
• Jackson Financial shares recently traded near a 52-week high at $125.95, while analysts have turned more positive with Jefferies and Barclays raising targets; the consensus rating is now Moderate Buy with a $126.40 target price.

Meeder Asset Management Inc. raised its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 329.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,683 shares of the company's stock after purchasing an additional 21,231 shares during the period. Meeder Asset Management Inc.'s holdings in Jackson Financial were worth $2,927,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in JXN. Dimensional Fund Advisors LP grew its stake in shares of Jackson Financial by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company's stock valued at $429,240,000 after buying an additional 18,740 shares during the period. SEB Asset Management AB bought a new position in Jackson Financial in the first quarter worth approximately $988,000. California Public Employees Retirement System boosted its holdings in Jackson Financial by 4.4% in the first quarter. California Public Employees Retirement System now owns 137,390 shares of the company's stock worth $14,525,000 after acquiring an additional 5,814 shares in the last quarter. Kera Capital Partners Inc. grew its stake in Jackson Financial by 0.9% in the first quarter. Kera Capital Partners Inc. now owns 49,011 shares of the company's stock valued at $5,181,000 after acquiring an additional 440 shares during the period. Finally, Assetmark Inc. grew its stake in Jackson Financial by 6.6% in the first quarter. Assetmark Inc. now owns 106,942 shares of the company's stock valued at $11,306,000 after acquiring an additional 6,634 shares during the period. Institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $125.95 on Monday. Jackson Financial Inc. has a 52 week low of $82.65 and a 52 week high of $126.69. 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 has a 50 day moving average price of $109.14 and a 200-day moving average price of $110.30. The company has a market cap of $8.78 billion, a PE ratio of -20.61 and a beta of 1.32.

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 paid a dividend of $0.90 per share. The ex-dividend date was Thursday, June 11th. This represents a $3.60 annualized dividend and a yield of 2.9%. Jackson Financial's dividend payout ratio (DPR) is -58.92%.

Analyst Ratings Changes

JXN has been the topic of a number of research reports. Jefferies Financial Group raised Jackson Financial from a "hold" rating to a "buy" rating and upped their target price for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. Barclays lifted their price target on shares of Jackson Financial from $136.00 to $139.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of Jackson Financial from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Weiss Ratings downgraded shares of Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods raised their price objective 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. 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's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.