Jackson Financial Inc. $JXN Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. raised its position in shares of Jackson Financial Inc. (NYSE:JXN) by 21.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,010 shares of the company’s stock after purchasing an additional 16,849 shares during the quarter. Bessemer Group Inc. owned about 0.14% of Jackson Financial worth $10,257,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JXN. Allworth Financial LP raised its stake in shares of Jackson Financial by 404.0% in the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after buying an additional 202 shares in the last quarter. Rothschild Investment LLC boosted its stake in Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after buying an additional 143 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Jackson Financial during the fourth quarter worth about $35,000. Advisory Services Network LLC acquired a new position in Jackson Financial during the third quarter worth about $37,000. Finally, Employees Retirement System of Texas bought a new stake in Jackson Financial in the third quarter worth about $38,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Jackson Financial Stock Up 0.2%

Shares of Jackson Financial stock opened at $125.95 on Monday. Jackson Financial Inc. has a 12-month low of $82.65 and a 12-month high of $126.69. The firm has a market capitalization of $8.78 billion, a PE ratio of -20.61 and a beta of 1.32. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $109.14 and its 200-day moving average is $110.30.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s payout ratio is presently -58.92%.

Jackson Financial Company 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.