Algert Global LLC Buys 43,239 Shares of Jackson Financial Inc. $JXN

Algert Global LLC lifted its stake in Jackson Financial Inc. (NYSE:JXN) by 21.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 241,504 shares of the company’s stock after buying an additional 43,239 shares during the period. Jackson Financial makes up approximately 0.4% of Algert Global LLC’s holdings, making the stock its 22nd largest holding. Algert Global LLC owned about 0.36% of Jackson Financial worth $24,447,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. bought a new stake in Jackson Financial in the third quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Jackson Financial in the second quarter worth approximately $30,000. Optiver Holding B.V. grew its holdings in shares of Jackson Financial by 469.2% in the third quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock worth $30,000 after purchasing an additional 244 shares during the last quarter. Bayforest Capital Ltd increased its stake in shares of Jackson Financial by 541.2% in 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. Finally, Salomon & Ludwin LLC bought a new stake in Jackson Financial during the 3rd quarter valued at $34,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Down 0.1%

Shares of NYSE:JXN opened at $104.64 on Friday. The firm has a market capitalization of $7.40 billion, a P/E ratio of -298.97 and a beta of 1.46. 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 stock has a 50 day moving average price of $113.79 and a 200-day moving average price of $104.51. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $123.61.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the business earned $4.65 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, March 16th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s dividend payout ratio (DPR) is presently -914.29%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a report on Monday, December 15th. Evercore set a $118.00 target price on Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. Barclays restated an “overweight” rating and set a $137.00 price target on shares of Jackson Financial in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned 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 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.