Jackson Financial Inc. $JXN Shares Bought by Candriam S.C.A.

Candriam S.C.A. lifted its stake in Jackson Financial Inc. (NYSE:JXN) by 31.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 177,950 shares of the company’s stock after acquiring an additional 42,607 shares during the quarter. Candriam S.C.A.’s holdings in Jackson Financial were worth $18,813,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ibex Wealth Advisors raised its holdings in shares of 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 buying an additional 3,587 shares during the period. Kestra Advisory Services LLC lifted its position in shares of Jackson Financial by 29.3% during the first 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 boosted its stake in shares of Jackson Financial by 4.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 16,235 shares of the company’s stock valued at $1,716,000 after purchasing an additional 700 shares during the period. Resonant Capital Advisors LLC purchased a new position in shares of Jackson Financial in the first quarter valued at $407,000. Finally, LVZ Inc. grew its holdings in Jackson Financial by 2.5% during the 1st quarter. LVZ Inc. now owns 6,727 shares of the company’s stock valued at $711,000 after purchasing an additional 161 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Jefferies Financial Group raised 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 research report on Friday. Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays upped their target price on Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings lowered shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $125.40.

Jackson Financial Stock Performance

Shares of NYSE JXN traded up $6.08 during midday trading on Friday, hitting $116.87. The company’s stock had a trading volume of 1,414,894 shares, compared to its average volume of 591,842. Jackson Financial Inc. has a 1-year low of $82.65 and a 1-year high of $123.61. The firm’s fifty day moving average price is $108.03 and its 200-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. The firm has a market cap of $8.15 billion, a P/E ratio of -19.13 and a beta of 1.32.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s payout ratio is presently -58.92%.

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.