NewSquare Capital LLC Has $1.04 Million Stock Position in Jackson Financial Inc. $JXN

Key Points

• NewSquare Capital LLC increased its stake in Jackson Financial to 10,302 shares — a 343,300% rise in Q3 — representing about $1.04 million at the end of the quarter.
• Jackson Financial raised its quarterly dividend to $0.90 per share (annualized $3.60, ~3.2% yield), with an ex-dividend date of March 16 and payment on March 26.
• The company beat quarterly estimates with EPS of $6.61 vs. $5.90 expected and revenue of $1.94B (down 2.8% YoY), but the stock shows a negative trailing P/E and carries a MarketBeat consensus rating of Hold with an average target of $113.

NewSquare Capital LLC grew its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 343,300.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,302 shares of the company's stock after purchasing an additional 10,299 shares during the period. NewSquare Capital LLC's holdings in Jackson Financial were worth $1,043,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Cullen Frost Bankers Inc. bought a new position in Jackson Financial in the third quarter valued at $28,000. Optiver Holding B.V. increased its position in shares of Jackson Financial by 469.2% in the third quarter. Optiver Holding B.V. now owns 296 shares of the company's stock valued at $30,000 after acquiring an additional 244 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Jackson Financial during the second quarter worth about $30,000. Salomon & Ludwin LLC bought a new stake in Jackson Financial during the third quarter worth about $34,000. Finally, Bayforest Capital Ltd boosted its position in Jackson Financial by 541.2% during the third quarter. Bayforest Capital Ltd now owns 327 shares of the company's stock valued at $33,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $111.48 on Friday. The company's 50 day moving average price is $113.79 and its two-hundred day moving average price is $104.00. The firm has a market capitalization of $7.58 billion, a P/E ratio of -318.51 and a beta of 1.46. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $123.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27.

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

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.2%. This is an increase from Jackson Financial's previous quarterly dividend of $0.80. The ex-dividend date is Monday, March 16th. Jackson Financial's dividend payout ratio (DPR) is presently -1,028.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Evercore set a $118.00 price objective on Jackson Financial and gave the stock an "in-line" rating in a research note on Tuesday, January 6th. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a research report on Monday, December 15th. Barclays reiterated an "overweight" rating and issued a $137.00 price target 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 report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Jackson Financial from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average 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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