Erste Asset Management GmbH Invests $1.16 Million in Jackson Financial Inc. $JXN

Erste Asset Management GmbH bought a new stake in Jackson Financial Inc. (NYSE:JXN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,400 shares of the company’s stock, valued at approximately $1,163,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fox Run Management L.L.C. raised its stake in Jackson Financial by 52.9% in the third quarter. Fox Run Management L.L.C. now owns 9,547 shares of the company’s stock valued at $966,000 after buying an additional 3,303 shares during the period. Optiver Holding B.V. increased its holdings in shares of Jackson Financial by 469.2% during the 3rd quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock worth $30,000 after acquiring an additional 244 shares during the last quarter. AXQ Capital LP bought a new stake in Jackson Financial in the 3rd quarter valued at $423,000. Hillsdale Investment Management Inc. lifted its holdings in Jackson Financial by 23.1% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 74,700 shares of the company’s stock valued at $7,562,000 after purchasing an additional 14,000 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its position in Jackson Financial by 12.4% during the third quarter. NewEdge Wealth LLC now owns 13,973 shares of the company’s stock worth $1,309,000 after purchasing an additional 1,545 shares during the period. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

Shares of NYSE:JXN opened at $109.26 on Monday. The company’s 50 day moving average price is $113.46 and its two-hundred day moving average price is $103.65. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $123.61. The firm has a market cap of $7.43 billion, a PE ratio of -312.15 and a beta of 1.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.90 by $0.71. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 earnings per share. Equities research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.90 per share. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.60 annualized dividend and a dividend yield of 3.3%. Jackson Financial’s payout ratio is currently -914.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on JXN shares. Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a research report on Monday, December 15th. Evercore set a $118.00 price target on shares of Jackson Financial and gave the company an “in-line” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays reaffirmed an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a research report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $113.00.

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.