Erste Asset Management GmbH Makes New $1.16 Million Investment in Jackson Financial Inc. $JXN

Erste Asset Management GmbH purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,400 shares of the company’s stock, valued at approximately $1,163,000.

Several other institutional investors and hedge funds have also modified their holdings of JXN. Samalin Investment Counsel LLC increased its stake in Jackson Financial by 2.0% during the 3rd quarter. Samalin Investment Counsel LLC now owns 5,370 shares of the company’s stock worth $544,000 after purchasing an additional 104 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Jackson Financial by 11.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,142 shares of the company’s stock valued at $117,000 after buying an additional 114 shares during the period. Bessemer Group Inc. increased its position in shares of Jackson Financial by 46.9% during the third quarter. Bessemer Group Inc. now owns 404 shares of the company’s stock worth $41,000 after acquiring an additional 129 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Jackson Financial by 23.5% during the third quarter. Hantz Financial Services Inc. now owns 689 shares of the company’s stock worth $70,000 after acquiring an additional 131 shares during the period. Finally, Bank of Montreal Can lifted its position in Jackson Financial by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 12,857 shares of the company’s stock valued at $1,142,000 after acquiring an additional 142 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JXN. Morgan Stanley set a $105.00 target price on Jackson Financial in a report on Monday, December 15th. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Evercore set a $118.00 target price on Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Barclays restated an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Stock Performance

JXN opened at $109.26 on Monday. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $123.61. The firm has a market capitalization of $7.43 billion, a PE ratio of -312.15 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. The business’s 50-day simple moving average is $113.46 and its 200 day simple moving average is $103.65.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.90 by $0.71. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.65 earnings per share. As a group, sell-side analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be issued 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 yield of 3.3%. Jackson Financial’s dividend payout ratio is presently -914.29%.

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.