Jackson Financial Inc. $JXN Holdings Trimmed by Legal & General Group Plc

Legal & General Group Plc lowered its position in shares of Jackson Financial Inc. (NYSE:JXN) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,927 shares of the company’s stock after selling 35,546 shares during the quarter. Legal & General Group Plc owned 0.26% of Jackson Financial worth $18,869,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Allworth Financial LP boosted its stake in Jackson Financial by 404.0% during the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after buying an additional 202 shares in the last quarter. Optiver Holding B.V. boosted its stake in Jackson Financial by 469.2% during the third quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock valued at $30,000 after buying an additional 244 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Jackson Financial during the fourth quarter valued at $35,000. Advisory Services Network LLC purchased a new stake in shares of Jackson Financial during the third quarter valued at $37,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of Jackson Financial during the third quarter valued at $38,000. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 1.3%

Shares of Jackson Financial stock opened at $104.41 on Tuesday. The stock has a 50-day moving average price of $107.88 and a 200 day moving average price of $108.05. The company has a market cap of $7.28 billion, a P/E ratio of -17.09 and a beta of 1.32. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a 1 year low of $80.25 and a 1 year high of $123.61.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, June 11th. Jackson Financial’s dividend payout ratio is currently -58.92%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings downgraded Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report 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. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Finally, Barclays reduced their target price on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. One 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.