Jackson Financial Inc. $JXN Shares Acquired by First Trust Advisors LP

First Trust Advisors LP increased its position in shares of Jackson Financial Inc. (NYSE:JXN) by 31.2% in the 1st quarter, Holdings Channel reports. The firm owned 225,250 shares of the company’s stock after purchasing an additional 53,603 shares during the period. First Trust Advisors LP’s holdings in Jackson Financial were worth $23,813,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JXN. Allworth Financial LP grew its holdings 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 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after acquiring an additional 143 shares during the last quarter. Plato Investment Management Ltd purchased a new position in Jackson Financial during the fourth quarter worth approximately $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial during the third quarter worth approximately $37,000. Finally, Employees Retirement System of Texas acquired a new position in Jackson Financial during the third quarter worth $38,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

NYSE JXN opened at $123.12 on Wednesday. The stock has a fifty day simple moving average of $110.82 and a 200-day simple moving average of $110.89. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. The stock has a market cap of $8.59 billion, a PE ratio of -20.15 and a beta of 1.32. Jackson Financial Inc. has a twelve month low of $82.65 and a twelve month high of $126.69.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given 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 dividend payout ratio (DPR) is currently -58.92%.

Wall Street Analysts Forecast Growth

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