Norges Bank Takes $129.88 Million Position in Jackson Financial Inc. $JXN

Norges Bank acquired a new stake in Jackson Financial Inc. (NYSE:JXN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,217,796 shares of the company’s stock, valued at approximately $129,878,000. Norges Bank owned approximately 1.79% of Jackson Financial at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment LLC raised its holdings in shares of Jackson Financial by 79.9% in the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after purchasing an additional 143 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Jackson Financial by 22.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,210 shares of the company’s stock worth $129,000 after purchasing an additional 218 shares during the period. Legato Capital Management LLC bought a new position in shares of Jackson Financial during the fourth quarter valued at approximately $726,000. LSV Asset Management increased its holdings in Jackson Financial by 5.8% during the fourth quarter. LSV Asset Management now owns 896,939 shares of the company’s stock valued at $95,659,000 after buying an additional 49,141 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Jackson Financial by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,495 shares of the company’s stock valued at $159,000 after buying an additional 184 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on JXN shares. 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 cut their price target on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings lowered Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods upped their price objective on 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 research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and an average price target of $115.80.

Jackson Financial Trading Up 1.4%

NYSE:JXN opened at $105.79 on Friday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -17.31 and a beta of 1.32. Jackson Financial Inc. has a 52 week low of $80.25 and a 52 week high of $123.61. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $107.93 and a 200 day moving average of $108.29.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.4%. Jackson Financial’s dividend payout ratio (DPR) is presently -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.