Sterling Capital Management LLC Trims Holdings in Jackson Financial Inc. $JXN

Sterling Capital Management LLC trimmed its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 38.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,119 shares of the company’s stock after selling 6,296 shares during the quarter. Sterling Capital Management LLC’s holdings in Jackson Financial were worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC lifted its stake in Jackson Financial by 79.9% in the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after purchasing an additional 143 shares in the last quarter. Plato Investment Management Ltd bought a new position in Jackson Financial in the 4th quarter valued at $35,000. Advisory Services Network LLC purchased a new position in shares of Jackson Financial during the 3rd quarter valued at $37,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Jackson Financial during the 3rd quarter valued at $38,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

JXN has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Barclays dropped their price target on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings cut shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. One equities 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 company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.80.

Jackson Financial Price Performance

JXN opened at $102.10 on Wednesday. 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 stock has a market capitalization of $7.12 billion, a P/E ratio of -16.71 and a beta of 1.32. The stock has a 50-day moving average price of $108.80 and a 200-day moving average price of $109.65. Jackson Financial Inc. has a 12-month low of $82.65 and a 12-month high of $123.61.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $3.60 annualized dividend and a yield of 3.5%. Jackson Financial’s dividend payout ratio is currently -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.