Mirae Asset Global Investments Co. Ltd. Makes New $793,000 Investment in Jackson Financial Inc. $JXN

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,830 shares of the company’s stock, valued at approximately $793,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Jackson Financial in the 2nd quarter worth approximately $102,131,000. LSV Asset Management boosted its holdings in Jackson Financial by 28.3% during the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock worth $74,250,000 after buying an additional 184,440 shares in the last quarter. JPMorgan Chase & Co. grew its position in Jackson Financial by 27.5% during the second quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock valued at $58,830,000 after buying an additional 143,091 shares during the period. Invesco Ltd. increased its holdings in Jackson Financial by 21.3% in the second quarter. Invesco Ltd. now owns 719,575 shares of the company’s stock valued at $63,891,000 after buying an additional 126,264 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Jackson Financial by 188.6% in the second quarter. Teacher Retirement System of Texas now owns 184,485 shares of the company’s stock valued at $16,380,000 after buying an additional 120,561 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JXN. Evercore ISI set a $118.00 target price on shares of Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Morgan Stanley set a $105.00 price objective on Jackson Financial in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $113.00.

Jackson Financial Price Performance

Shares of Jackson Financial stock opened at $117.51 on Thursday. The stock has a market capitalization of $7.99 billion, a P/E ratio of 16.25 and a beta of 1.45. The business has a 50 day simple moving average of $109.25 and a two-hundred day simple moving average of $100.50. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $123.61. 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 (NYSE:JXN) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $6.16 EPS for the quarter, topping the consensus estimate of $5.10 by $1.06. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $4.60 earnings per share. The firm’s revenue for the quarter was down 33.2% compared to the same quarter last year. As a group, analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal 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.