Jackson Financial Inc. (NYSE:JXN) Given Average Rating of “Hold” by Brokerages

Shares of Jackson Financial Inc. (NYSE:JXN) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $115.80.

Several analysts have recently issued reports on the company. Wall Street Zen cut Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays reduced their price objective 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. Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th.

Jackson Financial Stock Down 1.6%

Shares of NYSE JXN opened at $108.00 on Thursday. The stock has a market cap of $7.53 billion, a P/E ratio of -17.68 and a beta of 1.32. 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 has a 12-month low of $82.30 and a 12-month high of $123.61. The business’s fifty day simple moving average is $108.56 and its 200-day simple moving average is $109.17.

Jackson Financial Dividend Announcement

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

Hedge Funds Weigh In On Jackson Financial

Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in Jackson Financial by 12.2% in the third quarter. Victory Capital Management Inc. now owns 601,151 shares of the company’s stock valued at $60,855,000 after buying an additional 65,202 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Jackson Financial in the third quarter valued at $1,255,000. Kingsview Wealth Management LLC purchased a new position in Jackson Financial in the third quarter valued at $3,373,000. NewSquare Capital LLC increased its holdings in Jackson Financial by 343,300.0% in the third quarter. NewSquare Capital LLC now owns 10,302 shares of the company’s stock valued at $1,043,000 after buying an additional 10,299 shares during the last quarter. Finally, Accordant Advisory Group Inc purchased a new position in Jackson Financial in the fourth quarter valued at $1,678,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

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.