Jackson Financial Inc. (NYSE:JXN) Shares Bought by QRG Capital Management Inc. (2024)

Posted by Defense World Staff on May 19th, 2024

QRG Capital Management Inc. raised its stake in shares of Jackson Financial Inc. (NYSE:JXN – Free Report) by 52.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,785 shares of the company’s stock after buying an additional 3,041 shares during the period. QRG Capital Management Inc.’s holdings in Jackson Financial were worth $450,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Jackson Financial by 21.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,200 shares of the company’s stock worth $543,000 after acquiring an additional 2,539 shares during the period. Yousif Capital Management LLC purchased a new stake in Jackson Financial in the 3rd quarter worth approximately $1,372,000. Nisa Investment Advisors LLC grew its stake in shares of Jackson Financial by 240.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,370 shares of the company’s stock worth $129,000 after purchasing an additional 2,380 shares during the period. Principal Financial Group Inc. grew its stake in shares of Jackson Financial by 913.5% during the 3rd quarter. Principal Financial Group Inc. now owns 450,549 shares of the company’s stock worth $17,220,000 after purchasing an additional 406,093 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Jackson Financial by 3.9% during the 3rd quarter. California Public Employees Retirement System now owns 155,781 shares of the company’s stock valued at $5,954,000 after purchasing an additional 5,828 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity

In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of Jackson Financial stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Derek G. Kirkland bought 3,500 shares of the company’s stock in a transaction on Monday, March 4th. The stock was bought at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the acquisition, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Devkumar Dilip Ganguly sold 13,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.67, for a total value of $983,710.00. Following the completion of the sale, the chief operating officer now directly owns 93,405 shares of the company’s stock, valued at $7,067,956.35. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

JXN has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods lowered shares of Jackson Financial from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a research note on Tuesday, May 14th. Finally, Morgan Stanley raised their target price on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.80.

View Our Latest Report on Jackson Financial

Jackson Financial Price Performance

Shares of NYSE JXN opened at $77.97 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a fifty day moving average of $67.59 and a 200 day moving average of $55.68. The firm has a market cap of $5.95 billion, a PE ratio of 2.06 and a beta of 1.54. Jackson Financial Inc. has a one year low of $27.24 and a one year high of $81.52.

Jackson Financial (NYSE:JXN – Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.67 billion. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.15 EPS. As a group, research analysts predict that Jackson Financial Inc. will post 16.98 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $2.80 annualized dividend and a dividend yield of 3.59%. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

About Jackson Financial

(Free Report)

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.

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