Jackson Financial Inc. $JXN Shares Sold by South Dakota Investment Council

South Dakota Investment Council cut its position in shares of Jackson Financial Inc. (NYSE:JXN) by 17.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 64,246 shares of the company’s stock after selling 13,776 shares during the quarter. South Dakota Investment Council owned 0.09% of Jackson Financial worth $6,792,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of JXN. Norges Bank bought a new position in Jackson Financial during the fourth quarter valued at about $129,878,000. Hsbc Holdings PLC raised its position in Jackson Financial by 16.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after acquiring an additional 220,095 shares in the last quarter. Bank of New York Mellon Corp raised its position in Jackson Financial by 31.7% in the fourth quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock worth $94,503,000 after acquiring an additional 213,131 shares in the last quarter. Amundi lifted its holdings in Jackson Financial by 1,446.4% in the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock valued at $19,696,000 after acquiring an additional 181,291 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in Jackson Financial in the 3rd quarter valued at about $15,812,000. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

Jackson Financial stock opened at $122.00 on Friday. Jackson Financial Inc. has a fifty-two week low of $82.65 and a fifty-two week high of $126.69. The firm’s 50 day simple moving average is $111.29 and its 200-day simple moving average is $110.94. 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 company has a market cap of $8.51 billion, a P/E ratio of -19.97 and a beta of 1.32.

Jackson Financial Dividend Announcement

The company 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. This represents a $3.60 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s payout ratio is -58.92%.

Wall Street Analyst Weigh In

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

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.