NewEdge Wealth LLC Lowers Stock Position in Jackson Financial Inc. $JXN

NewEdge Wealth LLC trimmed its holdings in Jackson Financial Inc. (NYSE:JXN) by 29.1% during the first quarter, HoldingsChannel.com reports. The fund owned 10,535 shares of the company’s stock after selling 4,321 shares during the period. NewEdge Wealth LLC’s holdings in Jackson Financial were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of JXN. Sound Income Strategies LLC boosted its stake in Jackson Financial by 25.5% during the 4th quarter. Sound Income Strategies LLC now owns 483 shares of the company’s stock worth $55,000 after purchasing an additional 98 shares during the period. Wetzel Investment Advisors Inc. raised its holdings in shares of Jackson Financial by 4.5% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 2,300 shares of the company’s stock valued at $245,000 after buying an additional 100 shares during the last quarter. Seeds Investor LLC raised its holdings in shares of Jackson Financial by 4.5% in the fourth quarter. Seeds Investor LLC now owns 2,373 shares of the company’s stock valued at $253,000 after buying an additional 102 shares during the last quarter. Triumph Capital Management boosted its stake in shares of Jackson Financial by 2.7% during the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock worth $438,000 after buying an additional 107 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Jackson Financial by 1.7% during the fourth quarter. CIBC Asset Management Inc now owns 6,946 shares of the company’s stock worth $741,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 1.5%

Shares of NYSE:JXN opened at $121.05 on Tuesday. The company has a market cap of $8.44 billion, a price-to-earnings ratio of -19.81 and a beta of 1.32. The firm’s 50-day simple moving average is $110.52 and its 200-day simple moving average is $110.83. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a fifty-two week low of $82.65 and a fifty-two week high of $126.69.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were given a $0.90 dividend. The ex-dividend date was Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a yield of 3.0%. Jackson Financial’s dividend payout ratio (DPR) is presently -58.92%.

Analyst Upgrades and Downgrades

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

Jackson Financial 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.