Jackson Financial Inc. $JXN Stock Position Raised by Assetmark Inc.

Assetmark Inc. boosted its holdings in Jackson Financial Inc. (NYSE:JXN) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,942 shares of the company’s stock after acquiring an additional 6,634 shares during the period. Assetmark Inc. owned about 0.15% of Jackson Financial worth $11,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allworth Financial LP grew its stake 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 buying an additional 202 shares during the last quarter. Rothschild Investment LLC grew its holdings in Jackson Financial by 79.9% in the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after buying an additional 143 shares in the last quarter. Plato Investment Management Ltd bought a new position in Jackson Financial in the 4th quarter worth approximately $35,000. Advisory Services Network LLC acquired a new stake in Jackson Financial in the 3rd quarter valued at approximately $37,000. Finally, Employees Retirement System of Texas acquired a new position in Jackson Financial during the 3rd quarter worth $38,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Down 2.0%

Shares of Jackson Financial stock opened at $123.13 on Tuesday. 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 $8.59 billion, a PE ratio of -20.15 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 $109.41 and its 200-day moving average is $110.41.

Jackson Financial Announces Dividend

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

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price objective 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. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $120.00 to $140.00 in a report on Friday, July 10th. Wall Street Zen lowered shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Barclays upped their target price on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.40.

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.