Jackson Financial Inc. $JXN Stock Position Decreased by Legal & General Group Plc

Legal & General Group Plc cut its position in shares of Jackson Financial Inc. (NYSE:JXN) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,927 shares of the company’s stock after selling 35,546 shares during the period. Legal & General Group Plc’s holdings in Jackson Financial were worth $18,869,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Jackson Financial by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,994,949 shares of the company’s stock worth $404,415,000 after purchasing an additional 18,249 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Jackson Financial by 0.3% during the 3rd quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock worth $153,559,000 after purchasing an additional 4,559 shares in the last quarter. LSV Asset Management raised its stake in shares of Jackson Financial by 5.8% during the 4th quarter. LSV Asset Management now owns 896,939 shares of the company’s stock worth $95,659,000 after purchasing an additional 49,141 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Jackson Financial by 12.2% during the 3rd quarter. Victory Capital Management Inc. now owns 601,151 shares of the company’s stock worth $60,855,000 after purchasing an additional 65,202 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Jackson Financial by 7.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 578,111 shares of the company’s stock worth $58,522,000 after purchasing an additional 39,883 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on JXN. Weiss Ratings downgraded Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Keefe, Bruyette & Woods increased their price objective 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 lowered their price objective on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a report 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 given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.80.

Jackson Financial Stock Performance

JXN opened at $104.41 on Tuesday. The firm has a market capitalization of $7.28 billion, a P/E ratio of -17.09 and a beta of 1.32. The stock’s 50 day moving average price is $107.88 and its two-hundred day moving average price is $108.05. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a 12-month low of $80.25 and a 12-month high of $123.61.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a yield of 3.4%. Jackson Financial’s dividend payout ratio (DPR) is -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.