Russell Investments Group Ltd. Buys 10,215 Shares of Jackson Financial Inc. $JXN

Russell Investments Group Ltd. grew its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 286,409 shares of the company’s stock after purchasing an additional 10,215 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.41% of Jackson Financial worth $29,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Samalin Investment Counsel LLC increased its position in shares of Jackson Financial by 2.0% in the third quarter. Samalin Investment Counsel LLC now owns 5,370 shares of the company’s stock valued at $544,000 after acquiring an additional 104 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Jackson Financial by 11.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,142 shares of the company’s stock valued at $117,000 after acquiring an additional 114 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Jackson Financial by 46.9% during the third quarter. Bessemer Group Inc. now owns 404 shares of the company’s stock worth $41,000 after purchasing an additional 129 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Jackson Financial by 23.5% during the third quarter. Hantz Financial Services Inc. now owns 689 shares of the company’s stock worth $70,000 after purchasing an additional 131 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Jackson Financial by 1.1% in the second quarter. Bank of Montreal Can now owns 12,857 shares of the company’s stock worth $1,142,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Evercore set a $118.00 price objective on Jackson Financial and gave the stock an “in-line” rating in a research report on Tuesday, January 6th. Barclays reissued an “overweight” rating and set a $137.00 target price on shares of Jackson Financial in a research note on Thursday, January 8th. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Morgan Stanley set a $105.00 price target on Jackson Financial in a research note on Monday, December 15th. One equities 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 stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $113.00.

Jackson Financial Stock Performance

Jackson Financial stock opened at $104.68 on Friday. The stock’s 50 day simple moving average is $113.85 and its two-hundred day simple moving average is $104.42. 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 cap of $7.40 billion, a price-to-earnings 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.

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, topping the consensus estimate of $5.90 by $0.71. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.92 billion. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.65 EPS. As a group, analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.90 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, March 16th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.4%. Jackson Financial’s dividend payout ratio (DPR) is presently -914.29%.

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.