Easterly Investment Partners LLC Reduces Position in Jackson Financial Inc. $JXN

Easterly Investment Partners LLC trimmed its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,578 shares of the company’s stock after selling 6,613 shares during the period. Jackson Financial comprises about 1.4% of Easterly Investment Partners LLC’s portfolio, making the stock its 5th largest position. Easterly Investment Partners LLC owned approximately 0.32% of Jackson Financial worth $22,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC boosted its position in Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock valued at $458,000 after acquiring an additional 1,363 shares in the last quarter. Woodline Partners LP bought a new stake in Jackson Financial during the 1st quarter valued at $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Jackson Financial by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock valued at $17,664,000 after acquiring an additional 7,380 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Jackson Financial by 55.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock valued at $81,000 after acquiring an additional 325 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Jackson Financial in the 2nd quarter valued at about $986,000. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Performance

Shares of JXN opened at $102.93 on Monday. The stock has a 50-day moving average of $107.85 and a two-hundred day moving average of $107.98. Jackson Financial Inc. has a one year low of $80.25 and a one year high of $123.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $7.18 billion, a P/E ratio of -16.85 and a beta of 1.32.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a yield of 3.5%. Jackson Financial’s payout ratio is currently -58.92%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings cut shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Barclays lowered their price target on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $115.80.

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.