Assenagon Asset Management S.A. Decreases Stake in Jackson Financial Inc. $JXN

Assenagon Asset Management S.A. lessened its position in shares of Jackson Financial Inc. (NYSE:JXN) by 58.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,493 shares of the company’s stock after selling 7,619 shares during the period. Assenagon Asset Management S.A.’s holdings in Jackson Financial were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP lifted its holdings in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after buying an additional 202 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of Jackson Financial by 79.9% in the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after acquiring an additional 143 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Jackson Financial during the 4th quarter worth about $35,000. Advisory Services Network LLC acquired a new position in Jackson Financial in the third quarter valued at approximately $37,000. Finally, Employees Retirement System of Texas purchased a new position in Jackson Financial in the third quarter valued at approximately $38,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Up 0.1%

Shares of NYSE:JXN opened at $104.60 on Friday. Jackson Financial Inc. has a 1-year low of $82.65 and a 1-year high of $123.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market cap of $7.29 billion, a P/E ratio of -17.12 and a beta of 1.32. The firm has a fifty day moving average price of $108.53 and a 200 day moving average price of $109.63.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s payout ratio is -58.92%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Barclays cut their price target 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 cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. One investment 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. According to MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and an average target price of $115.80.

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.