Jackson Financial Inc. $JXN Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP cut its stake in Jackson Financial Inc. (NYSE:JXN) by 37.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,757 shares of the company’s stock after selling 17,674 shares during the period. Brevan Howard Capital Management LP’s holdings in Jackson Financial were worth $3,012,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Jackson Financial in the 3rd quarter worth about $2,009,000. Victory Capital Management Inc. lifted its position in Jackson Financial by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 601,151 shares of the company’s stock valued at $60,855,000 after purchasing an additional 65,202 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in Jackson Financial during the 3rd quarter valued at about $3,373,000. Donald Smith & CO. Inc. grew its position in Jackson Financial by 2.0% in the 2nd quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock worth $150,862,000 after purchasing an additional 33,040 shares during the last quarter. Finally, JPMorgan Chase & Co. grew 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 worth $58,830,000 after purchasing an additional 143,091 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Jackson Financial Stock Down 1.1%

JXN stock opened at $103.49 on Tuesday. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $123.61. The firm has a market cap of $7.31 billion, a PE ratio of -295.69 and a beta of 1.46. The firm has a 50 day simple moving average of $113.67 and a 200 day simple moving average of $104.59. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27.

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

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.60 annualized dividend and a dividend yield of 3.5%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. Jackson Financial’s dividend payout ratio is -914.29%.

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.