Envestnet Asset Management Inc. Grows Stake in Jackson Financial Inc. $JXN

Envestnet Asset Management Inc. lifted its stake in Jackson Financial Inc. (NYSE:JXN) by 39.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,505 shares of the company’s stock after purchasing an additional 8,422 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Jackson Financial were worth $2,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of JXN. Integrated Wealth Concepts LLC increased its stake in Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock valued at $458,000 after purchasing an additional 1,363 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Jackson Financial during the first quarter valued at approximately $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Jackson Financial by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock worth $17,664,000 after acquiring an additional 7,380 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Jackson Financial in the 2nd quarter valued at approximately $3,100,000. Finally, Teacher Retirement System of Texas boosted its stake in Jackson Financial by 188.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 184,485 shares of the company’s stock valued at $16,380,000 after purchasing an additional 120,561 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on JXN shares. Morgan Stanley set a $105.00 price target on Jackson Financial in a research note on Monday, December 15th. Barclays reissued an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a research report on Thursday, January 8th. Evercore set a $118.00 target price on shares of Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. One research 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 company. According to MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Stock Up 3.2%

JXN stock opened at $112.84 on Thursday. The company has a market cap of $7.67 billion, a price-to-earnings ratio of -322.39 and a beta of 1.45. 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 business’s 50-day moving average is $113.23 and its two-hundred day moving average is $103.32. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $123.61.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, beating the consensus estimate 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 in the previous year, the company earned $4.65 EPS. Jackson Financial’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be given a $0.90 dividend. The ex-dividend date is Monday, March 16th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 3.2%. Jackson Financial’s payout ratio is -914.29%.

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.