Skandinaviska Enskilda Banken AB publ Invests $1.26 Million in Jackson Financial Inc. $JXN

Skandinaviska Enskilda Banken AB publ purchased a new stake in Jackson Financial Inc. (NYSE:JXN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,400 shares of the company’s stock, valued at approximately $1,255,000.

Several other hedge funds have also added to or reduced their stakes in JXN. Donald Smith & CO. Inc. lifted its holdings in Jackson Financial by 2.0% during the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock worth $150,862,000 after acquiring an additional 33,040 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Jackson Financial by 1.5% during the second quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after purchasing an additional 20,212 shares during the period. Norges Bank bought a new position in shares of Jackson Financial during the 2nd quarter valued at about $102,131,000. Federated Hermes Inc. grew its position in shares of Jackson Financial by 6.4% in the 3rd quarter. Federated Hermes Inc. now owns 854,435 shares of the company’s stock valued at $86,494,000 after purchasing an additional 51,494 shares during the period. Finally, LSV Asset Management increased its stake in Jackson Financial by 1.4% during the 3rd quarter. LSV Asset Management now owns 847,798 shares of the company’s stock worth $85,823,000 after purchasing an additional 11,560 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on JXN shares. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Barclays reaffirmed an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Finally, Evercore set a $118.00 price target on Jackson Financial and gave the company an “in-line” rating in a research note on Tuesday, January 6th. One 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 company. Based on data from MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and a consensus target price of $113.00.

Jackson Financial Stock Up 1.8%

Shares of JXN stock opened at $115.74 on Friday. The firm’s fifty day moving average price is $112.99 and its two-hundred day moving average price is $102.90. 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 1 year low of $64.70 and a 1 year high of $123.61. The firm has a market capitalization of $7.87 billion, a P/E ratio of -330.68 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $6.61 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 analyst estimates of $1.92 billion. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 earnings per share. On average, equities analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal 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 paid a $0.90 dividend. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, March 16th. Jackson Financial’s dividend payout ratio is -1,028.57%.

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.