Norges Bank Takes Position in Jackson Financial Inc. $JXN

Norges Bank bought a new position in Jackson Financial Inc. (NYSE:JXN) in the fourth quarter, Holdings Channel reports. The firm bought 1,217,796 shares of the company’s stock, valued at approximately $129,878,000.

Several other large investors also recently bought and sold shares of JXN. Dimensional Fund Advisors LP increased its stake in Jackson Financial by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,994,949 shares of the company’s stock valued at $404,415,000 after purchasing an additional 18,249 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Jackson Financial by 0.3% during the third quarter. American Century Companies Inc. now owns 1,516,935 shares of the company’s stock valued at $153,559,000 after buying an additional 4,559 shares during the last quarter. LSV Asset Management grew its holdings in shares of Jackson Financial by 5.8% during the fourth quarter. LSV Asset Management now owns 896,939 shares of the company’s stock valued at $95,659,000 after buying an additional 49,141 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of 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 acquiring an additional 65,202 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Jackson Financial by 7.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 578,111 shares of the company’s stock valued at $58,522,000 after acquiring an additional 39,883 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 1.4%

Shares of Jackson Financial stock opened at $105.79 on Friday. The stock has a market cap of $7.38 billion, a PE ratio of -17.31 and a beta of 1.32. The firm has a fifty day moving average price of $107.93 and a 200 day moving average price of $108.29. Jackson Financial Inc. has a 1 year low of $80.25 and a 1 year high of $123.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, June 11th. 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 -58.92%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Barclays cut their price objective on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Keefe, Bruyette & Woods upped their target price on Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $115.80.

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.