Fifth Third Bancorp Acquires 40,839 Shares of Jackson Financial Inc. $JXN

Fifth Third Bancorp grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 15,469.3% in the first quarter, Holdings Channel reports. The institutional investor owned 41,103 shares of the company’s stock after acquiring an additional 40,839 shares during the period. Fifth Third Bancorp’s holdings in Jackson Financial were worth $4,345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Candriam S.C.A. raised its holdings in shares of Jackson Financial by 31.5% in the 1st quarter. Candriam S.C.A. now owns 177,950 shares of the company’s stock worth $18,813,000 after acquiring an additional 42,607 shares during the last quarter. Ibex Wealth Advisors boosted its stake in Jackson Financial by 1.8% during the 1st quarter. Ibex Wealth Advisors now owns 199,723 shares of the company’s stock valued at $21,115,000 after purchasing an additional 3,587 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in Jackson Financial by 29.3% during the 1st quarter. Kestra Advisory Services LLC now owns 35,593 shares of the company’s stock worth $3,763,000 after purchasing an additional 8,057 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Jackson Financial by 4.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,235 shares of the company’s stock worth $1,716,000 after purchasing an additional 700 shares in the last quarter. Finally, Resonant Capital Advisors LLC purchased a new stake in shares of Jackson Financial in the first quarter worth approximately $407,000. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Up 0.2%

JXN stock opened at $125.95 on Friday. The stock has a fifty day moving average of $109.14 and a 200-day moving average of $110.28. Jackson Financial Inc. has a fifty-two week low of $82.65 and a fifty-two week high of $126.69. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of -20.61 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s dividend payout ratio (DPR) is currently -58.92%.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of recent research reports. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays upped their price target on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Finally, Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Jackson Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.40.

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.