SEB Asset Management AB Buys New Stake in Jackson Financial Inc. $JXN

SEB Asset Management AB bought a new stake in Jackson Financial Inc. (NYSE:JXN) during the first quarter, HoldingsChannel reports. The institutional investor bought 9,349 shares of the company’s stock, valued at approximately $988,000.

A number of other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after buying an additional 202 shares in the last quarter. Rothschild Investment LLC lifted its stake in Jackson Financial by 79.9% during the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after acquiring an additional 143 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Jackson Financial during the 4th quarter valued at about $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial during the 3rd quarter valued at about $37,000. Finally, Employees Retirement System of Texas acquired a new position in Jackson Financial in the 3rd quarter valued at about $38,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wall Street Zen lowered shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays lifted their price objective on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Finally, Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.40.

Jackson Financial Stock Down 6.0%

JXN stock opened at $116.32 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a twelve month low of $82.65 and a twelve month high of $126.69. The company’s 50 day moving average is $110.13 and its two-hundred day moving average is $110.71. The stock has a market cap of $8.11 billion, a P/E ratio of -19.04 and a beta of 1.32.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s dividend payout ratio (DPR) is -58.92%.

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.