Allspring Global Investments Holdings LLC Reduces Holdings in Jackson Financial Inc. $JXN

Allspring Global Investments Holdings LLC decreased its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 28.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,324 shares of the company’s stock after selling 34,760 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Jackson Financial were worth $9,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Jackson Financial during the fourth quarter valued at $129,878,000. Hsbc Holdings PLC grew its holdings in Jackson Financial by 16.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after purchasing an additional 220,095 shares during the period. Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 213,131 shares in the last quarter. Amundi increased its stake in shares of Jackson Financial by 1,446.4% during the third quarter. Amundi now owns 193,825 shares of the company’s stock valued at $19,696,000 after purchasing an additional 181,291 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Jackson Financial in the 3rd quarter worth approximately $15,812,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

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

Jackson Financial Stock Performance

JXN opened at $123.60 on Thursday. The company’s 50 day moving average is $110.03 and its 200 day moving average is $110.65. 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 company has a market cap of $8.62 billion, a price-to-earnings ratio of -20.23 and a beta of 1.32. Jackson Financial Inc. has a 12-month low of $82.65 and a 12-month high of $126.69.

Jackson Financial Dividend Announcement

The firm 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 payout ratio is presently -58.92%.

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.