Public Sector Pension Investment Board Boosts Stock Position in Jackson Financial Inc. $JXN

Public Sector Pension Investment Board raised its holdings in Jackson Financial Inc. (NYSE:JXN) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 301,957 shares of the company’s stock after acquiring an additional 25,927 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.43% of Jackson Financial worth $30,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Jackson Financial during the second quarter valued at $102,131,000. LSV Asset Management lifted its holdings in Jackson Financial by 28.3% during the 2nd quarter. LSV Asset Management now owns 836,238 shares of the company’s stock valued at $74,250,000 after buying an additional 184,440 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Jackson Financial by 27.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock valued at $58,830,000 after buying an additional 143,091 shares during the period. Invesco Ltd. boosted its position in Jackson Financial by 21.3% in the 2nd quarter. Invesco Ltd. now owns 719,575 shares of the company’s stock valued at $63,891,000 after buying an additional 126,264 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in Jackson Financial by 188.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 184,485 shares of the company’s stock worth $16,380,000 after acquiring an additional 120,561 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JXN. Barclays reaffirmed an “overweight” rating and set a $137.00 price target on shares of Jackson Financial in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Evercore set a $118.00 target price on Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Finally, Morgan Stanley set a $105.00 price target on Jackson Financial in a research report on Monday, December 15th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.00.

Jackson Financial Stock Up 1.4%

Shares of NYSE JXN opened at $113.69 on Friday. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $123.61. The stock’s fifty day simple moving average is $111.76 and its two-hundred day simple moving average is $101.78. The stock has a market capitalization of $7.73 billion, a PE ratio of 15.72 and a beta of 1.45. 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 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.