Jackson Financial Inc. $JXN Stock Position Raised by Bessemer Group Inc.

Bessemer Group Inc. increased its position in Jackson Financial Inc. (NYSE:JXN) by 21.0% in the first quarter, HoldingsChannel reports. The firm owned 97,010 shares of the company’s stock after acquiring an additional 16,849 shares during the period. Bessemer Group Inc.’s holdings in Jackson Financial were worth $10,257,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have commented on JXN. Keefe, Bruyette & Woods raised their price objective on Jackson Financial from $125.00 to $130.00 and gave the stock 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 upped their target price for the company from $120.00 to $140.00 in a report on Friday, July 10th. Barclays increased their price target on shares of Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Weiss Ratings cut shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Jackson Financial presently has an average rating of “Moderate Buy” and an average target price of $126.40.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $125.95 on Monday. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of -20.61 and a beta of 1.32. Jackson Financial Inc. has a 1 year low of $82.65 and a 1 year high of $126.69. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $109.14 and a 200 day simple moving average of $110.30.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s dividend payout ratio is presently -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.