Kingsview Wealth Management LLC Acquires Shares of 33,318 Jackson Financial Inc. $JXN

Kingsview Wealth Management LLC acquired a new position in Jackson Financial Inc. (NYSE:JXN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,318 shares of the company’s stock, valued at approximately $3,373,000.

Several other hedge funds have also recently made changes to their positions in JXN. Norges Bank purchased a new position in Jackson Financial in the second quarter worth about $102,131,000. LSV Asset Management lifted its stake in shares of Jackson Financial by 28.3% in the 2nd quarter. LSV Asset Management now owns 836,238 shares of the company’s stock valued at $74,250,000 after purchasing an additional 184,440 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Jackson Financial by 27.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after purchasing an additional 143,091 shares during the period. Invesco Ltd. increased its position in shares of Jackson Financial by 21.3% during the 2nd quarter. Invesco Ltd. now owns 719,575 shares of the company’s stock valued at $63,891,000 after purchasing an additional 126,264 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in shares of 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. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 3.4%

JXN stock opened at $114.79 on Thursday. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $123.61. The firm’s 50-day moving average is $113.73 and its 200 day moving average is $103.95. The company has a market capitalization of $7.80 billion, a PE ratio of -327.96 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 released its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.90 by $0.71. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Jackson Financial’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $4.65 earnings per share. On average, research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

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

Analyst Ratings Changes

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

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.