Intech Investment Management LLC Decreases Holdings in Jackson Financial Inc. $JXN

Intech Investment Management LLC trimmed its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,995 shares of the company’s stock after selling 6,379 shares during the period. Intech Investment Management LLC’s holdings in Jackson Financial were worth $5,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in Jackson Financial by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 3,994,949 shares of the company’s stock valued at $404,415,000 after purchasing an additional 18,249 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Jackson Financial by 0.3% in the third quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock worth $153,559,000 after buying an additional 4,559 shares in the last quarter. LSV Asset Management lifted its stake in shares of Jackson Financial by 5.8% in the fourth quarter. LSV Asset Management now owns 896,939 shares of the company’s stock worth $95,659,000 after buying an additional 49,141 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Jackson Financial by 12.2% in the third quarter. Victory Capital Management Inc. now owns 601,151 shares of the company’s stock worth $60,855,000 after buying an additional 65,202 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Jackson Financial by 7.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 578,111 shares of the company’s stock worth $58,522,000 after buying an additional 39,883 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

Shares of JXN stock opened at $102.93 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The firm’s 50-day moving average is $107.85 and its two-hundred day moving average is $107.87. Jackson Financial Inc. has a 12 month low of $80.25 and a 12 month high of $123.61. The company has a market capitalization of $7.18 billion, a PE ratio of -16.85 and a beta of 1.39.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a yield of 3.5%. Jackson Financial’s payout ratio is -58.92%.

Analyst Ratings Changes

Several research firms have recently weighed in on JXN. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays decreased their price target on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued 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 target price of $115.80.

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.