Assetmark Inc. Buys 5,414 Shares of Jackson Financial Inc. $JXN

Assetmark Inc. grew its stake in Jackson Financial Inc. (NYSE:JXN) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,308 shares of the company’s stock after acquiring an additional 5,414 shares during the period. Assetmark Inc. owned 0.15% of Jackson Financial worth $10,698,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Amundi lifted its stake in Jackson Financial by 1,446.4% in the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock valued at $19,696,000 after purchasing an additional 181,291 shares during the last quarter. Focus Partners Wealth acquired a new stake in Jackson Financial in the 3rd quarter valued at about $15,812,000. Kennedy Capital Management LLC acquired a new stake in Jackson Financial in the 3rd quarter valued at about $15,806,000. Two Sigma Investments LP lifted its stake in Jackson Financial by 97.7% in the 3rd quarter. Two Sigma Investments LP now owns 232,624 shares of the company’s stock valued at $23,549,000 after purchasing an additional 114,954 shares during the last quarter. Finally, Cambria Investment Management L.P. lifted its stake in Jackson Financial by 1,431.6% in the 3rd quarter. Cambria Investment Management L.P. now owns 97,270 shares of the company’s stock valued at $9,847,000 after purchasing an additional 90,919 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JXN shares. Barclays cut their target price on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods cut their price objective on shares of Jackson Financial from $123.00 to $120.00 and set a “market perform” rating for the company in a research report on Friday, April 10th. Finally, Evercore set a $118.00 price target on shares of Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. One 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 an average rating of “Hold” and an average target price of $114.80.

Jackson Financial Price Performance

JXN stock opened at $109.48 on Friday. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of -312.79 and a beta of 1.45. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. Jackson Financial Inc. has a 12-month low of $69.84 and a 12-month high of $123.61. The company’s fifty day simple moving average is $108.45 and its 200 day simple moving average is $105.51.

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

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were issued a dividend of $0.90 per share. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, March 16th. Jackson Financial’s dividend payout ratio (DPR) is currently -1,028.57%.

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.