Hillsdale Investment Management Inc. Has $7.56 Million Stock Holdings in Jackson Financial Inc. $JXN

Hillsdale Investment Management Inc. raised its position in Jackson Financial Inc. (NYSE:JXN) by 23.1% during the third quarter, Holdings Channel reports. The institutional investor owned 74,700 shares of the company’s stock after buying an additional 14,000 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Jackson Financial were worth $7,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in JXN. Cullen Frost Bankers Inc. bought a new position in Jackson Financial in the third quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Jackson Financial during the 2nd quarter valued at about $30,000. Bayforest Capital Ltd boosted its stake in shares of Jackson Financial by 541.2% in the 3rd quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock valued at $33,000 after purchasing an additional 276 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of Jackson Financial during the 3rd quarter worth approximately $34,000. Finally, Pinnacle Bancorp Inc. bought a new stake in shares of Jackson Financial during the third quarter worth approximately $34,000. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on JXN shares. Morgan Stanley set a $105.00 target price on shares of Jackson Financial in a report on Monday, December 15th. Barclays reaffirmed an “overweight” rating and set a $137.00 price objective on shares of Jackson Financial in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Trading Up 1.8%

NYSE JXN opened at $115.74 on Friday. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $123.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $7.87 billion, a P/E ratio of -330.68 and a beta of 1.45. The stock’s 50-day moving average is $112.99 and its 200-day moving average is $102.78.

Jackson Financial (NYSE:JXN) last posted its earnings results 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 business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.92 billion. Jackson Financial’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.65 earnings per share. Sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be given a $0.90 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.60 annualized dividend and a yield of 3.1%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s payout ratio is presently 44.26%.

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.