CenterBook Partners LP Boosts Stock Holdings in Jackson Financial Inc. $JXN

CenterBook Partners LP grew its position in Jackson Financial Inc. (NYSE:JXN) by 50.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,084 shares of the company’s stock after purchasing an additional 7,755 shares during the period. CenterBook Partners LP’s holdings in Jackson Financial were worth $2,462,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Jackson Financial by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,994,949 shares of the company’s stock worth $404,415,000 after acquiring an additional 18,249 shares during the period. American Century Companies Inc. raised its stake in shares of Jackson Financial by 0.3% during the 3rd quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock worth $153,559,000 after purchasing an additional 4,559 shares during the period. Norges Bank purchased a new position in shares of Jackson Financial in the 4th quarter worth about $129,878,000. LSV Asset Management boosted its holdings in shares of Jackson Financial by 5.8% in the 4th quarter. LSV Asset Management now owns 896,939 shares of the company’s stock worth $95,659,000 after buying an additional 49,141 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Jackson Financial by 31.7% during the fourth quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock valued at $94,503,000 after buying an additional 213,131 shares during the period. 89.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays dropped their target price on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods boosted their target price 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 analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $115.80.

Jackson Financial Stock Performance

NYSE JXN opened at $107.38 on Wednesday. The company has a market capitalization of $7.49 billion, a P/E ratio of -17.57 and a beta of 1.32. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.27 and a current ratio of 0.27. Jackson Financial Inc. has a 52-week low of $80.25 and a 52-week high of $123.61. The company has a fifty day moving average of $108.08 and a 200-day moving average of $108.62.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.60 annualized dividend and a yield of 3.4%. Jackson Financial’s dividend payout ratio is currently -58.92%.

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.