Miller Value Partners LLC Sells 7,675 Shares of Jackson Financial Inc. $JXN

Miller Value Partners LLC cut its holdings in Jackson Financial Inc. (NYSE:JXN) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,150 shares of the company’s stock after selling 7,675 shares during the period. Jackson Financial accounts for approximately 3.2% of Miller Value Partners LLC’s portfolio, making the stock its 13th biggest holding. Miller Value Partners LLC owned 0.13% of Jackson Financial worth $9,188,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Man Group plc increased its stake in shares of Jackson Financial by 144.9% in the fourth quarter. Man Group plc now owns 100,998 shares of the company’s stock worth $10,771,000 after purchasing an additional 59,759 shares during the period. Inspire Investing LLC bought a new position in shares of Jackson Financial in the fourth quarter worth about $53,000. Janus Henderson Group PLC increased its stake in shares of Jackson Financial by 36.7% in the fourth quarter. Janus Henderson Group PLC now owns 368,277 shares of the company’s stock worth $39,271,000 after purchasing an additional 98,805 shares during the period. Evolve Private Wealth LLC bought a new position in shares of Jackson Financial in the fourth quarter worth about $778,000. Finally, Bridgeway Capital Management LLC bought a new position in shares of Jackson Financial in the fourth quarter worth about $2,698,000. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JXN shares. Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Weiss Ratings lowered Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Barclays lowered their price target on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and an average target price of $115.80.

Jackson Financial Trading Down 1.6%

Shares of JXN opened at $108.00 on Thursday. Jackson Financial Inc. has a 12-month low of $82.30 and a 12-month high of $123.61. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of -17.68 and a beta of 1.32. The stock’s 50-day moving average price is $108.56 and its 200 day moving average price is $109.17.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, June 11th. Jackson Financial’s payout ratio is currently -58.92%.

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.