Royce & Associates LP Trims Stake in Jackson Financial Inc. $JXN

Royce & Associates LP cut its position in shares of Jackson Financial Inc. (NYSE:JXN) by 44.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,858 shares of the company’s stock after selling 7,950 shares during the quarter. Royce & Associates LP’s holdings in Jackson Financial were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Samalin Investment Counsel LLC increased its position in shares of Jackson Financial by 2.0% during the third quarter. Samalin Investment Counsel LLC now owns 5,370 shares of the company’s stock valued at $544,000 after acquiring an additional 104 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Jackson Financial by 11.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,142 shares of the company’s stock valued at $117,000 after purchasing an additional 114 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Jackson Financial by 46.9% in the 3rd quarter. Bessemer Group Inc. now owns 404 shares of the company’s stock worth $41,000 after purchasing an additional 129 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Jackson Financial by 23.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 689 shares of the company’s stock worth $70,000 after purchasing an additional 131 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Jackson Financial by 1.1% in the second quarter. Bank of Montreal Can now owns 12,857 shares of the company’s stock worth $1,142,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Down 1.9%

Shares of NYSE:JXN opened at $109.38 on Friday. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $123.61. The business has a 50 day simple moving average of $113.81 and a two-hundred day simple moving average of $104.11. The firm has a market capitalization of $7.73 billion, a PE ratio of -312.51 and a beta of 1.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 18th. The company reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. Jackson Financial’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be issued a $0.90 dividend. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, March 16th. Jackson Financial’s dividend payout ratio is -914.29%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Evercore set a $118.00 price target on Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. Barclays reiterated an “overweight” rating and set a $137.00 price objective on shares of Jackson Financial in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Finally, Morgan Stanley set a $105.00 price target on Jackson Financial in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $113.00.

Jackson Financial 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.