Jackson Financial Inc. $JXN Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 58.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,493 shares of the company’s stock after selling 7,619 shares during the period. Assenagon Asset Management S.A.’s holdings in Jackson Financial were worth $581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Jackson Financial in the 4th quarter valued at $129,878,000. Hsbc Holdings PLC lifted its stake in shares of Jackson Financial by 16.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after acquiring an additional 220,095 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Jackson Financial by 31.7% in the fourth quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock valued at $94,503,000 after acquiring an additional 213,131 shares in the last quarter. Amundi boosted its holdings in shares of Jackson Financial by 1,446.4% in the third quarter. Amundi now owns 193,825 shares of the company’s stock valued at $19,696,000 after acquiring an additional 181,291 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Jackson Financial in the third quarter valued at about $15,812,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

JXN opened at $104.60 on Friday. Jackson Financial Inc. has a twelve month low of $82.65 and a twelve month high of $123.61. The company has a fifty day simple moving average of $108.53 and a 200 day simple moving average of $109.63. 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 firm has a market cap of $7.29 billion, a price-to-earnings ratio of -17.12 and a beta of 1.32.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s payout ratio is -58.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on JXN shares. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Wall Street Zen cut Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Barclays decreased their price target on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and a consensus price target of $115.80.

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.