Jackson Financial Inc. $JXN Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 29.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,535 shares of the company’s stock after selling 4,321 shares during the quarter. NewEdge Wealth LLC’s holdings in Jackson Financial were worth $1,114,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Allworth Financial LP grew its position in shares of Jackson Financial by 404.0% during the third 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 raised its holdings in Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after acquiring an additional 143 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Jackson Financial in the fourth quarter valued at approximately $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial in the third quarter worth approximately $37,000. Finally, Employees Retirement System of Texas purchased a new position in Jackson Financial in the third quarter worth approximately $38,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JXN. Keefe, Bruyette & Woods increased 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 report on Monday, July 13th. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Barclays increased their target price on Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.40.

Jackson Financial Price Performance

Shares of JXN opened at $121.05 on Tuesday. Jackson Financial Inc. has a 1-year low of $82.65 and a 1-year high of $126.69. The stock has a market cap of $8.44 billion, a PE ratio of -19.81 and a beta of 1.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a fifty day moving average price of $110.52 and a 200 day moving average price of $110.83.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s payout ratio is presently -58.92%.

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.