Principal Financial Group Inc. Has $36.37 Million Stock Position in Jackson Financial Inc. $JXN

Principal Financial Group Inc. raised its stake in Jackson Financial Inc. (NYSE:JXN) by 6.2% during the 1st quarter, Holdings Channel reports. The fund owned 344,040 shares of the company’s stock after acquiring an additional 20,035 shares during the period. Principal Financial Group Inc.’s holdings in Jackson Financial were worth $36,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of JXN. Norges Bank bought a new stake in shares of Jackson Financial during the fourth quarter worth approximately $129,878,000. Hsbc Holdings PLC boosted its stake in Jackson Financial by 16.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after purchasing an additional 220,095 shares during the period. Bank of New York Mellon Corp grew its holdings in Jackson Financial by 31.7% in the 4th quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock valued at $94,503,000 after buying an additional 213,131 shares in the last quarter. Amundi increased its position in Jackson Financial by 1,446.4% during the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock worth $19,696,000 after buying an additional 181,291 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of Jackson Financial during the third quarter worth $15,812,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JXN has been the topic of several research reports. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays boosted their price objective on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Weiss Ratings lowered shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $126.40.

Jackson Financial Stock Performance

NYSE:JXN opened at $125.95 on Friday. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -20.61 and a beta of 1.32. Jackson Financial Inc. has a fifty-two week low of $82.65 and a fifty-two week high of $126.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a fifty day moving average price of $109.14 and a 200-day moving average price of $110.28.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s payout ratio is -58.92%.

Jackson Financial 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.