Wedge Capital Management L L P NC lifted its position in Jackson Financial Inc. (NYSE:JXN – Free Report) by 6.4% in the 2nd quarter, Holdings Channel reports. The fund owned 310,357 shares of the company’s stock after acquiring an additional 18,666 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Jackson Financial were worth $31,777,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Jackson Financial by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company’s stock valued at $429,240,000 after buying an additional 18,740 shares during the period. Hsbc Holdings PLC boosted its stake in Jackson Financial by 16.5% during the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of Jackson Financial during the fourth quarter valued at approximately $129,878,000. Morgan Stanley increased its position in Jackson Financial by 6.0% during the 4th quarter. Morgan Stanley now owns 1,196,405 shares of the company’s stock valued at $127,597,000 after buying an additional 67,796 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Jackson Financial by 14.8% during the fourth quarter. Federated Hermes Inc. now owns 981,046 shares of the company’s stock valued at $104,629,000 after buying an additional 126,611 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on JXN shares. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $120.00 to $140.00 in a research report on Friday, July 10th. Barclays upped their price objective on Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Evercore set a $135.00 target price on Jackson Financial in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.80.
Jackson Financial Stock Down 0.7%
JXN stock opened at $129.42 on Wednesday. The business’s 50-day moving average is $115.27 and its two-hundred day moving average is $111.88. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 182.29 and a beta of 1.30. Jackson Financial Inc. has a fifty-two week low of $89.67 and a fifty-two week high of $137.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26.
Jackson Financial (NYSE:JXN – Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $1.58. Jackson Financial had a net margin of 1.59% and a return on equity of 18.93%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.91 billion.
Jackson Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Jackson Financial’s payout ratio is currently 507.04%.
Insider Buying and Selling
In other Jackson Financial news, EVP Carrie Chelko sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the sale, the executive vice president owned 80,914 shares in the company, valued at $10,861,895.36. This represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by insiders.
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.
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