Grantham Mayo Van Otterloo & Co. LLC Lowers Holdings in Jackson Financial Inc. $JXN

Grantham Mayo Van Otterloo & Co. LLC reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 87.5% in the 3rd quarter, Holdings Channel reports. The fund owned 2,351 shares of the company’s stock after selling 16,393 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Jackson Financial were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new stake in Jackson Financial in the 3rd quarter worth approximately $28,000. Optiver Holding B.V. grew its stake in shares of 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 during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Jackson Financial during the 2nd quarter valued at approximately $30,000. Salomon & Ludwin LLC acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $34,000. Finally, Bayforest Capital Ltd lifted 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 period. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JXN has been the topic of several analyst reports. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a research report on Monday, December 15th. Evercore set a $118.00 target price on shares of Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Barclays restated an “overweight” rating and issued a $137.00 price target on shares of Jackson Financial in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.00.

Jackson Financial Stock Performance

NYSE:JXN opened at $104.68 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $7.40 billion, a PE ratio of -299.08 and a beta of 1.46. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $123.61. The company has a fifty day moving average of $113.85 and a two-hundred day moving average of $104.42.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 18th. The company reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.90 by $0.71. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.92 billion. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.65 EPS. As a group, research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Monday, March 16th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, March 16th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s payout ratio is presently -914.29%.

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.