Patriot Financial Group Insurance Agency LLC Purchases 5,660 Shares of Jackson Financial Inc. $JXN

Patriot Financial Group Insurance Agency LLC grew its position in shares of Jackson Financial Inc. (NYSE:JXN) by 119.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,408 shares of the company’s stock after acquiring an additional 5,660 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Jackson Financial were worth $1,100,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Jackson Financial by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,041,610 shares of the company’s stock worth $431,045,000 after purchasing an additional 46,661 shares in the last quarter. Hsbc Holdings PLC grew its position in Jackson Financial by 16.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after purchasing an additional 220,095 shares in the last quarter. American Century Companies Inc. increased its stake in Jackson Financial by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock valued at $153,559,000 after buying an additional 4,559 shares during the last quarter. Norges Bank acquired a new stake in Jackson Financial in the 4th quarter valued at $129,878,000. Finally, Morgan Stanley lifted its position in Jackson Financial by 6.0% during the 4th quarter. Morgan Stanley now owns 1,196,405 shares of the company’s stock worth $127,597,000 after buying an additional 67,796 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of 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 report on Tuesday, May 12th. Barclays reduced their price target on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Finally, Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $115.80.

Jackson Financial Stock Performance

Shares of JXN stock opened at $105.08 on Tuesday. The stock has a market cap of $7.33 billion, a P/E ratio of -17.20 and a beta of 1.32. The company has a fifty day moving average price of $108.94 and a two-hundred day moving average price of $109.66. Jackson Financial Inc. has a one year low of $82.65 and a one year high of $123.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s payout ratio 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.