Jackson Financial Inc. $JXN Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 56.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,641 shares of the company’s stock after selling 120,851 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.13% of Jackson Financial worth $9,774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP raised 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 acquiring an additional 202 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Jackson Financial during the 3rd quarter worth $28,000. Optiver Holding B.V. raised its stake in Jackson Financial by 469.2% during the 3rd quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock worth $30,000 after acquiring an additional 244 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Jackson Financial during the 3rd quarter worth $34,000. Finally, Bayforest Capital Ltd raised its stake in Jackson Financial by 541.2% during the 3rd quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock worth $33,000 after acquiring an additional 276 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays cut their price target on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen lowered shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Evercore set a $118.00 price target on shares of Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods lowered their price objective on shares of Jackson Financial from $123.00 to $120.00 and set a “market perform” rating on the stock in a research report on Friday, April 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and an average price target of $114.80.

Jackson Financial Trading Down 1.4%

Shares of Jackson Financial stock opened at $106.01 on Friday. Jackson Financial Inc. has a 1 year low of $69.84 and a 1 year high of $123.61. 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 company has a market capitalization of $7.49 billion, a P/E ratio of -302.88 and a beta of 1.45. The company’s fifty day moving average is $108.65 and its two-hundred day moving average is $105.45.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, topping 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 business posted $4.65 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Monday, March 16th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, March 16th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s payout ratio is -1,028.57%.

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.