Assenagon Asset Management S.A. Reduces Position in Jackson Financial Inc. $JXN

Assenagon Asset Management S.A. decreased its holdings in Jackson Financial Inc. (NYSE:JXN) by 91.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,112 shares of the company’s stock after selling 136,112 shares during the period. Assenagon Asset Management S.A.’s holdings in Jackson Financial were worth $1,398,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Allworth Financial LP grew its position in shares of Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after purchasing an additional 202 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Jackson Financial during the 3rd quarter valued at about $28,000. Optiver Holding B.V. grew its holdings in Jackson Financial by 469.2% during the 3rd quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock valued at $30,000 after buying an additional 244 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Jackson Financial during the second quarter valued at about $30,000. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Jackson Financial in the third quarter worth about $34,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a research report on Monday, December 15th. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Barclays restated an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Evercore set a $118.00 price target on Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $123.00 price objective on shares of Jackson Financial in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $115.60.

Jackson Financial Price Performance

JXN stock opened at $105.91 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $123.61. The firm’s fifty day moving average is $111.50 and its 200 day moving average is $105.13. The firm has a market cap of $7.49 billion, a P/E ratio of -302.59 and a beta of 1.46.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.90 by $0.71. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 earnings per share. Research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.4%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, March 16th. Jackson Financial’s payout ratio is presently -1,028.57%.

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.