Allianz Asset Management GmbH Sells 195,603 Shares of Jackson Financial Inc. $JXN

Allianz Asset Management GmbH lessened its stake in Jackson Financial Inc. (NYSE:JXN) by 33.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 391,469 shares of the company’s stock after selling 195,603 shares during the period. Allianz Asset Management GmbH’s holdings in Jackson Financial were worth $39,628,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC acquired a new position in shares of Jackson Financial in the third quarter worth approximately $2,009,000. Thrivent Financial for Lutherans raised its holdings in Jackson Financial by 10.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 58,140 shares of the company’s stock worth $5,885,000 after purchasing an additional 5,610 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of Jackson Financial in the 3rd quarter worth approximately $254,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Jackson Financial in the 3rd quarter valued at $793,000. Finally, Federated Hermes Inc. boosted its stake in shares of Jackson Financial by 6.4% in the 3rd quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock valued at $86,494,000 after purchasing an additional 51,494 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $115.98 on Friday. The business has a 50-day simple moving average of $109.61 and a 200 day simple moving average of $100.61. Jackson Financial Inc. has a one year low of $64.70 and a one year 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. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 16.04 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $6.16 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $1.06. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. The company’s revenue was down 33.2% on a year-over-year basis. During the same period last year, the business posted $4.60 EPS. On average, research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on JXN shares. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Zacks Research raised Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Morgan Stanley set a $105.00 target price on Jackson Financial in a research report on Monday, December 15th. Barclays reiterated an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a report on Thursday, January 8th. Finally, Evercore ISI set a $118.00 price target on Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.00.

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.