Jackson Financial Inc. $JXN Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 117,741 shares of the company’s stock after selling 6,259 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Jackson Financial were worth $12,557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of JXN. Allworth Financial LP increased its stake in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after purchasing an additional 202 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Jackson Financial during the 3rd quarter valued at approximately $28,000. Optiver Holding B.V. increased 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 valued at $30,000 after purchasing an additional 244 shares in the last quarter. Bayforest Capital Ltd increased its stake in Jackson Financial by 541.2% during the 3rd quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock valued at $33,000 after purchasing an additional 276 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Jackson Financial in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on JXN shares. Keefe, Bruyette & Woods dropped 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 report on Friday, April 10th. Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays dropped their price objective on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Finally, Evercore set a $118.00 price objective on shares of Jackson Financial and gave the company an “in-line” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $114.80.

Jackson Financial Stock Performance

Shares of NYSE JXN opened at $114.47 on Friday. The company’s fifty day moving average price is $108.14 and its 200 day moving average price is $106.32. Jackson Financial Inc. has a 1 year low of $78.76 and a 1 year high of $123.61. The company has a market capitalization of $8.06 billion, a PE ratio of -327.05 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the company posted $4.65 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Monday, March 16th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.1%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Monday, March 16th. Jackson Financial’s payout ratio is currently -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.