Jackson Financial Inc. $JXN Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 65,107.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,129 shares of the company’s stock after buying an additional 9,115 shares during the period. Picton Mahoney Asset Management’s holdings in Jackson Financial were worth $923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in JXN. Cullen Frost Bankers Inc. acquired a new position in Jackson Financial in the third quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Jackson Financial during the second quarter worth approximately $30,000. Optiver Holding B.V. lifted its position in shares of Jackson Financial by 469.2% during the 3rd quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock worth $30,000 after buying an additional 244 shares during the last quarter. Bayforest Capital Ltd lifted its position in shares of Jackson Financial by 541.2% during the 3rd quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock worth $33,000 after buying an additional 276 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on JXN. Wall Street Zen upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Morgan Stanley set a $105.00 price objective on Jackson Financial in a report on Monday, December 15th. Barclays reiterated an “overweight” rating and set a $137.00 target price 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, 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. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Stock Performance

Shares of JXN opened at $109.38 on Friday. The stock has a market capitalization of $7.73 billion, a P/E ratio of -312.51 and a beta of 1.46. The company’s fifty day moving average is $113.81 and its two-hundred day moving average is $104.11. 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 Inc. has a 1 year low of $64.70 and a 1 year high of $123.61.

Jackson Financial (NYSE:JXN) last posted its quarterly 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 firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

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

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.