Kennedy Capital Management LLC Purchases New Position in Jackson Financial Inc. $JXN

Kennedy Capital Management LLC acquired a new position in Jackson Financial Inc. (NYSE:JXN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 156,142 shares of the company’s stock, valued at approximately $15,806,000.

Several other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its stake in shares of Jackson Financial by 33.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock valued at $458,000 after purchasing an additional 1,363 shares during the period. Woodline Partners LP bought a new position in Jackson Financial in the first quarter worth $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Jackson Financial by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock worth $17,664,000 after purchasing an additional 7,380 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Jackson Financial by 10.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,083 shares of the company’s stock valued at $1,872,000 after acquiring an additional 2,034 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Jackson Financial by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 12,857 shares of the company’s stock worth $1,142,000 after purchasing an additional 142 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JXN shares. Barclays reiterated an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Morgan Stanley set a $105.00 price objective on Jackson Financial in a research report on Monday, December 15th. Evercore set a $118.00 target price on Jackson Financial and gave the stock an “in-line” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. One equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $113.00.

Jackson Financial Stock Performance

NYSE JXN traded up $0.67 on Friday, reaching $105.38. 51,684 shares of the stock were exchanged, compared to its average volume of 599,574. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $123.61. The firm has a market capitalization of $7.45 billion, a PE ratio of -300.82 and a beta of 1.46. The company’s 50-day simple moving average is $113.85 and its two-hundred day simple moving average is $104.42.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company earned $4.65 earnings per share. Analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be given a $0.90 dividend. The ex-dividend date is Monday, March 16th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 3.4%. Jackson Financial’s dividend payout ratio (DPR) is presently -914.29%.

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.