Ritholtz Wealth Management Has $1.44 Million Position in Jackson Financial Inc. $JXN

Ritholtz Wealth Management cut its stake in Jackson Financial Inc. (NYSE:JXN) by 26.1% in the third quarter, HoldingsChannel.com reports. The fund owned 14,238 shares of the company’s stock after selling 5,020 shares during the period. Ritholtz Wealth Management’s holdings in Jackson Financial were worth $1,441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Montreal Can increased its stake in Jackson Financial by 1.1% in the second quarter. Bank of Montreal Can now owns 12,857 shares of the company’s stock valued at $1,142,000 after purchasing an additional 142 shares in the last quarter. Tcfg Wealth Management LLC boosted its position in shares of Jackson Financial by 3.5% during the second quarter. Tcfg Wealth Management LLC now owns 4,356 shares of the company’s stock worth $387,000 after purchasing an additional 149 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Jackson Financial by 8.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $203,000 after buying an additional 179 shares during the period. Gladstone Institutional Advisory LLC increased its position in shares of Jackson Financial by 7.9% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 2,552 shares of the company’s stock valued at $258,000 after buying an additional 187 shares in the last quarter. Finally, Silver Oak Securities Incorporated raised its stake in Jackson Financial by 6.2% during the 2nd quarter. Silver Oak Securities Incorporated now owns 3,697 shares of the company’s stock worth $328,000 after buying an additional 215 shares during the period. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on JXN shares. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Barclays reaffirmed an “overweight” rating and issued a $137.00 price target on shares of Jackson Financial in a research note on Thursday, January 8th. Finally, Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a research report on Monday, December 15th. One investment 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $113.00.

Jackson Financial Trading Down 1.2%

NYSE:JXN opened at $113.44 on Monday. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $118.18. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $103.50 and a two-hundred day moving average price of $98.00. The company has a market cap of $7.71 billion, a P/E ratio of 15.69 and a beta of 1.44.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $1.06. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business earned $4.60 earnings per share. Jackson Financial’s revenue for the quarter was down 33.2% on a year-over-year basis. As a group, analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, December 4th. Jackson Financial’s dividend payout ratio is currently 44.26%.

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.