Jackson Financial Inc. $JXN Shares Acquired by Cambria Investment Management L.P.

Cambria Investment Management L.P. grew its stake in Jackson Financial Inc. (NYSE:JXN) by 1,431.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,270 shares of the company’s stock after purchasing an additional 90,919 shares during the period. Cambria Investment Management L.P. owned approximately 0.14% of Jackson Financial worth $9,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in Jackson Financial during the second quarter worth $102,131,000. Amundi increased its stake in shares of Jackson Financial by 1,446.4% in the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock worth $19,696,000 after acquiring an additional 181,291 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Jackson Financial during the 3rd quarter worth $15,812,000. Kennedy Capital Management LLC purchased a new position in shares of Jackson Financial during the 3rd quarter worth $15,806,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Jackson Financial by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock valued at $58,830,000 after acquiring an additional 143,091 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Down 0.6%

Shares of NYSE:JXN opened at $103.21 on Thursday. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of -294.86 and a beta of 1.46. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $123.61. The business has a 50-day moving average price of $113.24 and a 200 day moving average price of $104.61. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last posted its 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 company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.92 billion. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 EPS. Sell-side analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be issued a $0.90 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.60 annualized dividend and a dividend yield of 3.5%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s dividend payout ratio (DPR) is currently -1,028.57%.

Analyst Ratings Changes

Several research firms recently issued reports on JXN. Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a research report on Monday, December 15th. Evercore set a $118.00 target price on shares of Jackson Financial and gave the company an “in-line” rating in a report on Tuesday, January 6th. Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Barclays restated an “overweight” rating and set a $137.00 price target on shares of Jackson Financial in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. One equities research 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.00.

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.