Russell Investments Group Ltd. Acquires 10,215 Shares of Jackson Financial Inc. $JXN

Russell Investments Group Ltd. boosted its holdings in Jackson Financial Inc. (NYSE:JXN) by 3.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 286,409 shares of the company’s stock after purchasing an additional 10,215 shares during the quarter. Russell Investments Group Ltd.’s holdings in Jackson Financial were worth $29,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Jackson Financial during the third quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Jackson Financial in the 2nd quarter worth approximately $30,000. Optiver Holding B.V. grew its stake in shares of Jackson Financial by 469.2% in 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 increased its position in Jackson Financial by 541.2% during the 3rd quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock valued at $33,000 after buying an additional 276 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new position in Jackson Financial during the 3rd quarter valued at approximately $34,000. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

JXN has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Morgan Stanley set a $105.00 price target 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, February 28th. Barclays reiterated an “overweight” rating and issued a $137.00 price target on shares of Jackson Financial in a research note on Thursday, January 8th. Finally, Evercore set a $118.00 price objective on shares of Jackson Financial and gave the company an “in-line” rating in a research report 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’s stock. Based on data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and an average price target of $113.00.

Jackson Financial Stock Down 2.4%

Jackson Financial stock opened at $104.68 on Friday. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $123.61. The stock has a fifty day simple moving average of $113.85 and a two-hundred day simple moving average of $104.42. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of -299.08 and a beta of 1.46.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, March 16th. This represents a $3.60 annualized dividend and a yield of 3.4%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s dividend payout ratio (DPR) is currently -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.