Assetmark Inc. Raises Holdings in Jackson Financial Inc. $JXN

Assetmark Inc. raised its stake in Jackson Financial Inc. (NYSE:JXN) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,894 shares of the company’s stock after acquiring an additional 6,008 shares during the quarter. Assetmark Inc. owned approximately 0.14% of Jackson Financial worth $9,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board increased its stake in Jackson Financial by 9.4% in the third quarter. Public Sector Pension Investment Board now owns 301,957 shares of the company’s stock valued at $30,567,000 after purchasing an additional 25,927 shares during the last quarter. LSV Asset Management grew its holdings in Jackson Financial by 1.4% in the 3rd quarter. LSV Asset Management now owns 847,798 shares of the company’s stock valued at $85,823,000 after buying an additional 11,560 shares during the period. Versor Investments LP grew its holdings in Jackson Financial by 63.6% in the 3rd quarter. Versor Investments LP now owns 12,718 shares of the company’s stock valued at $1,287,000 after buying an additional 4,943 shares during the period. Candriam S.C.A. increased its stake in shares of Jackson Financial by 2.9% during the 3rd quarter. Candriam S.C.A. now owns 154,403 shares of the company’s stock valued at $15,630,000 after acquiring an additional 4,371 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Jackson Financial by 11.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,142 shares of the company’s stock worth $117,000 after acquiring an additional 114 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

Jackson Financial stock opened at $113.69 on Tuesday. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $123.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 15.72 and a beta of 1.45. The firm’s fifty day moving average price is $112.07 and its 200 day moving average price is $102.17.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on JXN shares. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a report on Monday, December 15th. Barclays reissued an “overweight” rating and set a $137.00 price objective on shares of Jackson Financial in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.