Profund Advisors LLC Raises Holdings in Jackson Financial Inc. $JXN

Profund Advisors LLC grew its position in shares of Jackson Financial Inc. (NYSE:JXN) by 126.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,506 shares of the company’s stock after buying an additional 5,310 shares during the period. Profund Advisors LLC’s holdings in Jackson Financial were worth $1,014,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JXN. Allworth Financial LP lifted its position in shares of Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after buying an additional 202 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Jackson Financial during the 3rd quarter valued at $28,000. Optiver Holding B.V. lifted its holdings in Jackson Financial by 469.2% during the 3rd quarter. Optiver Holding B.V. now owns 296 shares of the company’s stock worth $30,000 after purchasing an additional 244 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Jackson Financial during the 4th quarter worth about $35,000. Finally, Advisory Services Network LLC purchased a new stake in Jackson Financial during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent research reports. Wall Street Zen cut Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Barclays dropped their price objective on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Finally, Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. One equities 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 stock. According to data from MarketBeat, Jackson Financial currently has a consensus rating of “Hold” and an average target price of $115.80.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $108.19 on Friday. The firm has a market capitalization of $7.55 billion, a P/E ratio of -17.71 and a beta of 1.39. 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 stock’s 50-day simple moving average is $107.78 and its two-hundred day simple moving average is $107.56. Jackson Financial Inc. has a twelve month low of $78.76 and a twelve month high of $123.61.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.90 by $0.71. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. Jackson Financial’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.65 earnings per share.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Thursday, June 11th. Jackson Financial’s dividend payout ratio is currently -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.