Jackson Financial Inc. $JXN Stake Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in Jackson Financial Inc. (NYSE:JXN) by 22.8% during the third quarter, Holdings Channel reports. The institutional investor owned 122,484 shares of the company’s stock after buying an additional 22,766 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Jackson Financial were worth $12,400,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of JXN. Twin Peaks Wealth Advisors LLC bought a new position in shares of Jackson Financial during the 2nd quarter valued at about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Jackson Financial by 111.6% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Jackson Financial by 1,342.9% during the second quarter. Sound Income Strategies LLC now owns 505 shares of the company’s stock valued at $45,000 after purchasing an additional 470 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Jackson Financial by 62.7% during the second quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock worth $50,000 after buying an additional 215 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Jackson Financial in the third quarter worth approximately $60,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Evercore ISI upped their target price on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, October 9th. Morgan Stanley set a $105.00 price target on Jackson Financial in a research report on Monday, December 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Finally, Barclays upped their price objective on shares of Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $109.60.

Jackson Financial Trading Up 2.1%

Shares of NYSE:JXN opened at $109.68 on Tuesday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $7.46 billion, a PE ratio of 15.17 and a beta of 1.44. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $111.07. The firm has a fifty day moving average price of $100.34 and a 200 day moving average price of $96.27.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. The company had revenue of ($1,162.00) million during the quarter. Analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were paid a $0.80 dividend. The ex-dividend date was Thursday, December 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.9%. Jackson Financial’s dividend payout ratio is currently 44.26%.

Jackson Financial announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Jackson Financial Company 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.