Allspring Global Investments Holdings LLC Trims Stock Holdings in Jackson Financial Inc. $JXN

Allspring Global Investments Holdings LLC decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 28.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,324 shares of the company’s stock after selling 34,760 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.13% of Jackson Financial worth $9,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC increased its holdings in shares of Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after purchasing an additional 143 shares during the period. Plato Investment Management Ltd bought a new position in shares of Jackson Financial in the fourth quarter worth $35,000. Advisory Services Network LLC purchased a new stake in shares of Jackson Financial in the third quarter worth $37,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of Jackson Financial in the third quarter worth $38,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Down 0.5%

Shares of JXN stock opened at $123.60 on Thursday. The stock has a market capitalization of $8.62 billion, a PE ratio of -20.23 and a beta of 1.32. Jackson Financial Inc. has a 1-year low of $82.65 and a 1-year high of $126.69. The business has a 50-day moving average of $110.03 and a 200 day moving average of $110.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $3.60 annualized dividend and a dividend yield of 2.9%. Jackson Financial’s dividend payout ratio (DPR) is presently -58.92%.

Analysts Set New Price Targets

Several brokerages have recently commented on JXN. Weiss Ratings lowered Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Barclays lifted their target price on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.40.

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.