Jackson Financial Inc. $JXN Holdings Lifted by Assetmark Inc.

Assetmark Inc. boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 6.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,942 shares of the company’s stock after acquiring an additional 6,634 shares during the quarter. Assetmark Inc.’s holdings in Jackson Financial were worth $11,306,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Accordant Advisory Group Inc acquired a new stake in shares of Jackson Financial in the 4th quarter valued at $1,678,000. Horizon Investments LLC bought a new stake in Jackson Financial in the fourth quarter worth $2,638,000. Artemis Investment Management LLP acquired a new position in Jackson Financial during the fourth quarter worth $2,696,000. Candriam S.C.A. increased its position in Jackson Financial by 31.5% during the first quarter. Candriam S.C.A. now owns 177,950 shares of the company’s stock worth $18,813,000 after buying an additional 42,607 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in Jackson Financial by 29.3% during the first quarter. Kestra Advisory Services LLC now owns 35,593 shares of the company’s stock valued at $3,763,000 after buying an additional 8,057 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

NYSE:JXN opened at $123.13 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. Jackson Financial Inc. has a one year low of $82.65 and a one year high of $126.69. The company has a fifty day moving average price of $109.41 and a 200 day moving average price of $110.41. The stock has a market cap of $8.59 billion, a P/E ratio of -20.15 and a beta of 1.32.

Jackson Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on JXN shares. Barclays boosted their price target on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $120.00 to $140.00 in a report on Friday, July 10th. One equities research 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 stock. Based on data from MarketBeat.com, Jackson Financial has a consensus rating of “Moderate Buy” and an average price target of $126.40.

Jackson Financial Company 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.