Grantham Mayo Van Otterloo & Co. LLC Sells 16,393 Shares of Jackson Financial Inc. $JXN

Grantham Mayo Van Otterloo & Co. LLC lowered its position in Jackson Financial Inc. (NYSE:JXN) by 87.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,351 shares of the company’s stock after selling 16,393 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Jackson Financial were worth $238,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Jackson Creek Investment Advisors LLC acquired a new position in shares of Jackson Financial during the third quarter worth $2,009,000. Kingsview Wealth Management LLC acquired a new stake in shares of Jackson Financial in the 3rd quarter worth $3,373,000. Victory Capital Management Inc. boosted its position in shares of Jackson Financial by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 601,151 shares of the company’s stock worth $60,855,000 after purchasing an additional 65,202 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Jackson Financial by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after buying an additional 143,091 shares during the last quarter. Finally, Donald Smith & CO. Inc. increased its position in Jackson Financial by 2.0% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after buying an additional 33,040 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a report on Monday, December 15th. Evercore set a $118.00 price objective on shares of Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Barclays reissued an “overweight” rating and set a $137.00 target price on shares of Jackson Financial in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.00.

Jackson Financial Stock Down 2.4%

JXN stock opened at $104.68 on Friday. The company has a market capitalization of $7.40 billion, a P/E ratio of -299.08 and a beta of 1.46. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $123.61. The firm’s fifty day simple moving average is $113.85 and its 200-day simple moving average is $104.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.90 by $0.71. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.92 billion. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the business earned $4.65 EPS. As a group, equities research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.60 annualized dividend and a yield of 3.4%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s payout ratio is -914.29%.

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.