Jackson Financial Inc. $JXN Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in shares of Jackson Financial Inc. (NYSE:JXN) by 64.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,153 shares of the company’s stock after selling 96,290 shares during the quarter. Lazard Asset Management LLC owned 0.08% of Jackson Financial worth $5,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JXN. Norges Bank acquired a new stake in Jackson Financial in the 4th quarter valued at about $129,878,000. Hsbc Holdings PLC grew its stake in shares of Jackson Financial by 16.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after purchasing an additional 220,095 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Jackson Financial by 31.7% in the 4th quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock worth $94,503,000 after purchasing an additional 213,131 shares during the last quarter. Amundi raised its holdings in shares of Jackson Financial by 1,446.4% in the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock worth $19,696,000 after purchasing an additional 181,291 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Jackson Financial in the 3rd quarter worth approximately $15,812,000. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Performance

Shares of JXN opened at $122.00 on Friday. Jackson Financial Inc. has a one year low of $82.65 and a one year high of $126.69. The company has a 50-day moving average of $111.29 and a two-hundred day moving average of $110.94. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of -19.97 and a beta of 1.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s dividend payout ratio is -58.92%.

Wall Street Analysts Forecast Growth

JXN has been the subject of a number of research reports. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Keefe, Bruyette & Woods upped their price target on Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Weiss Ratings downgraded Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Barclays raised their price objective on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $120.00 to $140.00 in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Jackson Financial currently has an average rating of “Moderate Buy” and a consensus price target of $126.40.

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.