Citigroup Inc. Trims Position in Jackson Financial Inc. $JXN

Citigroup Inc. decreased its position in Jackson Financial Inc. (NYSE:JXN) by 21.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,444 shares of the company’s stock after selling 53,179 shares during the quarter. Citigroup Inc. owned approximately 0.27% of Jackson Financial worth $19,177,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Jackson Financial by 33.2% in the first quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock worth $458,000 after buying an additional 1,363 shares during the last quarter. Woodline Partners LP bought a new position in Jackson Financial in the first quarter worth approximately $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Jackson Financial by 3.6% during 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 acquiring an additional 7,380 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Jackson Financial by 10.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,083 shares of the company’s stock valued at $1,872,000 after acquiring an additional 2,034 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Jackson Financial in the 2nd quarter worth $3,100,000. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JXN has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Morgan Stanley set a $105.00 price objective on Jackson Financial in a research report on Monday, December 15th. Evercore set a $118.00 target price on shares of Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Finally, Barclays reaffirmed an “overweight” rating and set a $137.00 price target on shares of Jackson Financial in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and an average price target of $113.00.

Jackson Financial Trading Up 3.5%

JXN stock opened at $116.88 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $123.61. The business has a 50 day simple moving average of $113.42 and a two-hundred day simple moving average of $103.41. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of -333.93 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, topping the consensus estimate of $5.90 by $0.71. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Jackson Financial’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $4.65 EPS. Research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.90 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.60 annualized dividend and a dividend yield of 3.1%. Jackson Financial’s payout ratio is currently -914.29%.

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.