Federated Hermes Inc. Raises Holdings in Jackson Financial Inc. $JXN

Federated Hermes Inc. boosted its position in Jackson Financial Inc. (NYSE:JXN) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 854,435 shares of the company’s stock after acquiring an additional 51,494 shares during the quarter. Federated Hermes Inc. owned 1.23% of Jackson Financial worth $86,494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Jackson Financial during the 3rd quarter worth about $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Jackson Financial during the second quarter valued at approximately $30,000. Bayforest Capital Ltd grew its stake in Jackson Financial by 541.2% during the third quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock worth $33,000 after buying an additional 276 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of Jackson Financial in the third quarter worth $34,000. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of Jackson Financial in the 3rd quarter valued at $34,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Trading Up 0.5%

NYSE:JXN opened at $115.86 on Thursday. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 16.03 and a beta of 1.44. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $118.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. The business’s 50-day simple moving average is $106.86 and its 200 day simple moving average is $99.39.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $1.06. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Jackson Financial’s revenue for the quarter was down 33.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.60 earnings per share. As a group, sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Thursday, December 4th. Jackson Financial’s dividend payout ratio is 44.26%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Evercore ISI set a $118.00 target price on Jackson Financial and gave the stock an “in-line” rating in a research report on Tuesday, January 6th. Barclays reiterated an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Finally, Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.00.

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.