SG Americas Securities LLC Cuts Stake in Jackson Financial Inc. $JXN

SG Americas Securities LLC lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 66.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,291 shares of the company’s stock after selling 12,605 shares during the period. SG Americas Securities LLC’s holdings in Jackson Financial were worth $665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Evolve Private Wealth LLC grew its position in shares of Jackson Financial by 38.0% during the first quarter. Evolve Private Wealth LLC now owns 10,060 shares of the company’s stock valued at $1,064,000 after purchasing an additional 2,768 shares in the last quarter. Davis Capital Management bought a new position in shares of Jackson Financial during the 1st quarter valued at approximately $133,000. Hsbc Holdings PLC increased its position in Jackson Financial by 16.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after purchasing an additional 220,095 shares during the last quarter. World Investment Advisors purchased a new stake in Jackson Financial during the fourth quarter valued at $1,062,000. Finally, Advisortrust Partners LLC bought a new position in Jackson Financial during the fourth quarter valued at $391,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JXN. Barclays reiterated an “overweight” rating on shares of Jackson Financial in a research report on Tuesday. Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings lowered shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. 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 data from MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and a consensus price target of $115.80.

Jackson Financial Stock Performance

NYSE:JXN traded up $0.63 during midday trading on Tuesday, hitting $109.99. The company’s stock had a trading volume of 14,848 shares, compared to its average volume of 608,478. The firm’s 50 day moving average is $108.30 and its 200-day moving average is $109.64. The firm has a market cap of $7.67 billion, a P/E ratio of -18.04 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 fifty-two week low of $82.65 and a fifty-two week high of $123.61.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were 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 was Thursday, June 11th. Jackson Financial’s payout ratio is -58.92%.

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.