BI Asset Management Fondsmaeglerselskab A S Cuts Position in Jackson Financial Inc. $JXN

BI Asset Management Fondsmaeglerselskab A S decreased its stake in Jackson Financial Inc. (NYSE:JXN) by 99.3% in the 3rd quarter, Holdings Channel reports. The firm owned 530 shares of the company’s stock after selling 71,003 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Jackson Financial were worth $54,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in JXN. Cullen Frost Bankers Inc. purchased a new stake in shares of Jackson Financial during the 3rd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Jackson Financial during the second quarter worth $30,000. Bayforest Capital Ltd boosted its position in Jackson Financial by 541.2% during the third quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock worth $33,000 after purchasing an additional 276 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Jackson Financial in the third quarter valued at $34,000. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of Jackson Financial in the third quarter valued at $34,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JXN. Barclays reiterated an “overweight” rating and issued a $137.00 price objective on shares of Jackson Financial in a research report on Thursday, January 8th. Zacks Research upgraded shares of 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 shares of Jackson Financial in a research note on Monday, December 15th. Evercore set a $118.00 target price on Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Price Performance

JXN opened at $118.90 on Tuesday. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $123.61. The company’s 50 day simple moving average is $110.47 and its 200 day simple moving average is $101.22. The stock has a market capitalization of $8.08 billion, a PE ratio of 16.45 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27.

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.