Renaissance Technologies LLC Makes New Investment in Jackson Financial Inc. $JXN

Renaissance Technologies LLC acquired a new position in Jackson Financial Inc. (NYSE:JXN) during the first quarter, HoldingsChannel reports. The institutional investor acquired 102,500 shares of the company’s stock, valued at approximately $10,836,000.

Several other hedge funds have also recently made changes to their positions in the business. Allworth Financial LP raised its holdings in shares of Jackson Financial by 404.0% during the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC boosted its holdings in Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after acquiring an additional 143 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Jackson Financial during the 4th quarter valued at $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial during the 3rd quarter valued at $37,000. Finally, Signature Equity Partners LLC bought a new position in Jackson Financial in the 1st quarter worth $38,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 0.3%

Shares of NYSE JXN opened at $122.21 on Friday. Jackson Financial Inc. has a 1 year low of $82.65 and a 1 year high of $126.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a 50-day moving average of $111.59 and a 200 day moving average of $111.02. The stock has a market cap of $8.52 billion, a P/E ratio of -20.00 and a beta of 1.32.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.9%. Jackson Financial’s dividend payout ratio (DPR) is currently -58.92%.

Wall Street Analysts Forecast Growth

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

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.