ARGA Investment Management LP Decreases Stock Holdings in Jackson Financial Inc. $JXN

ARGA Investment Management LP trimmed its position in shares of Jackson Financial Inc. (NYSE:JXN) by 50.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,794 shares of the company’s stock after selling 5,994 shares during the quarter. ARGA Investment Management LP’s holdings in Jackson Financial were worth $613,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its position in Jackson Financial by 33.2% during the 1st 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 during the last quarter. Woodline Partners LP bought a new stake in shares of Jackson Financial in the 1st quarter worth approximately $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Jackson Financial by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock worth $17,664,000 after buying an additional 7,380 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of 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 position in shares of Jackson Financial during the second quarter valued at approximately $986,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Up 5.5%

JXN stock opened at $116.87 on Friday. Jackson Financial Inc. has a fifty-two week low of $82.65 and a fifty-two week high of $123.61. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of -19.13 and a beta of 1.32. The business’s 50 day moving average price is $108.03 and its two-hundred day moving average price is $109.73. 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 company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s dividend payout ratio is presently -58.92%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings lowered Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $140.00 in a report on Friday. Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Barclays lifted their target price on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $125.40.

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.