AlphaQuest LLC Has $731,000 Position in Jackson Financial Inc. $JXN

AlphaQuest LLC cut its stake in Jackson Financial Inc. (NYSE:JXN) by 68.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,218 shares of the company’s stock after selling 15,334 shares during the quarter. AlphaQuest LLC’s holdings in Jackson Financial were worth $731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. grew its stake in Jackson Financial by 2.0% in the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after purchasing an additional 33,040 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Jackson Financial by 1.5% in the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock valued at $120,685,000 after buying an additional 20,212 shares in the last quarter. Norges Bank bought a new stake in shares of Jackson Financial in the 2nd quarter valued at approximately $102,131,000. Federated Hermes Inc. increased its holdings in Jackson Financial by 6.4% in the third quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock worth $86,494,000 after buying an additional 51,494 shares during the last quarter. Finally, LSV Asset Management raised its position in Jackson Financial by 28.3% during the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock valued at $74,250,000 after acquiring an additional 184,440 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on JXN shares. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Barclays reiterated an “overweight” rating and issued a $137.00 price objective on shares of Jackson Financial in a report on Thursday, January 8th. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Morgan Stanley set a $105.00 price target on Jackson Financial in a research report on Monday, December 15th. Finally, Evercore ISI set a $118.00 price target on Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.00.

Jackson Financial Stock Performance

Shares of JXN opened at $118.35 on Wednesday. The company has a market capitalization of $8.04 billion, a PE ratio of 16.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $123.61. The company’s fifty day moving average price is $108.86 and its 200 day moving average price is $100.38.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $1.06. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. The firm’s revenue was down 33.2% on a year-over-year basis. During the same quarter last year, the company earned $4.60 earnings per share. As a group, analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

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.