Dimensional Fund Advisors LP Increases Stock Holdings in Jackson Financial Inc. $JXN

Dimensional Fund Advisors LP raised its position in Jackson Financial Inc. (NYSE:JXN) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,994,949 shares of the company’s stock after purchasing an additional 18,249 shares during the period. Dimensional Fund Advisors LP owned 5.74% of Jackson Financial worth $404,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in Jackson Financial in the 2nd quarter worth approximately $102,131,000. LSV Asset Management grew its position in Jackson Financial by 28.3% during the 2nd quarter. LSV Asset Management now owns 836,238 shares of the company’s stock worth $74,250,000 after acquiring an additional 184,440 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Jackson Financial by 27.5% in the second quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after buying an additional 143,091 shares during the period. Invesco Ltd. increased its position in shares of Jackson Financial by 21.3% in the second quarter. Invesco Ltd. now owns 719,575 shares of the company’s stock valued at $63,891,000 after acquiring an additional 126,264 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Jackson Financial by 4,509.1% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 71,533 shares of the company’s stock valued at $6,351,000 after purchasing an additional 69,981 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 3.4%

JXN opened at $114.79 on Thursday. The firm’s fifty day moving average is $113.73 and its 200 day moving average is $103.95. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $123.61. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of -327.96 and a beta of 1.46. 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 released its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the business posted $4.65 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be given a dividend of $0.90 per share. The ex-dividend date is Monday, March 16th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.1%. Jackson Financial’s dividend payout ratio (DPR) is -914.29%.

Analysts Set New Price Targets

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