Miller Value Partners LLC Sells 7,675 Shares of Jackson Financial Inc. $JXN

Miller Value Partners LLC reduced its stake in Jackson Financial Inc. (NYSE:JXN) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,150 shares of the company’s stock after selling 7,675 shares during the period. Jackson Financial makes up approximately 3.2% of Miller Value Partners LLC’s holdings, making the stock its 13th largest holding. Miller Value Partners LLC’s holdings in Jackson Financial were worth $9,188,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of JXN. Norges Bank bought a new stake in shares of Jackson Financial in the 4th quarter valued at approximately $129,878,000. Bank of New York Mellon Corp grew its stake in shares of Jackson Financial by 31.7% in the 4th quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock valued at $94,503,000 after purchasing an additional 213,131 shares during the period. Amundi grew its stake in shares of Jackson Financial by 1,446.4% in the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock valued at $19,696,000 after purchasing an additional 181,291 shares during the period. Focus Partners Wealth bought a new stake in shares of Jackson Financial in the 3rd quarter valued at approximately $15,812,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of Jackson Financial in the 3rd quarter valued at approximately $15,806,000. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays lowered their price objective on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings lowered Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. One equities 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $115.80.

Jackson Financial Stock Down 1.6%

Shares of JXN opened at $108.00 on Thursday. The company has a market capitalization of $7.53 billion, a P/E ratio of -17.68 and a beta of 1.32. 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 Inc. has a one year low of $82.30 and a one year high of $123.61. The business’s 50 day simple moving average is $108.56 and its 200-day simple moving average is $109.17.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, June 11th. Jackson Financial’s payout ratio is presently -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.