Jackson Financial Inc. $JXN Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in shares of Jackson Financial Inc. (NYSE:JXN) by 2.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 402,856 shares of the company’s stock after selling 8,361 shares during the period. Wedge Capital Management L L P NC’s holdings in Jackson Financial were worth $40,781,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Jackson Financial in the second quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Jackson Financial by 111.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares in the last quarter. Brooklyn Investment Group raised its holdings in Jackson Financial by 987.0% in the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock worth $42,000 after purchasing an additional 454 shares during the period. Sound Income Strategies LLC boosted its position in Jackson Financial by 1,342.9% during the second quarter. Sound Income Strategies LLC now owns 505 shares of the company’s stock worth $45,000 after purchasing an additional 470 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in Jackson Financial by 62.7% during the second quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock worth $50,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on JXN. Keefe, Bruyette & Woods boosted their price objective on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a report on Monday, December 15th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 15th. Finally, Barclays upped their price target on shares of Jackson Financial from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.60.

Jackson Financial Trading Up 0.1%

Shares of JXN opened at $107.52 on Friday. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $108.67. The stock has a market cap of $7.31 billion, a PE ratio of 14.87 and a beta of 1.45. The firm’s fifty day moving average is $98.08 and its two-hundred day moving average is $94.31. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. The firm had revenue of ($1,162.00) million for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 15.73%. Research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial announced that its board has approved a stock repurchase plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 14.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, December 4th. Jackson Financial’s dividend payout ratio (DPR) is 44.26%.

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.