Jackson Financial Inc. (NYSE:JXN) Shares Sold by Rathbones Group PLC

Rathbones Group PLC reduced its position in Jackson Financial Inc. (NYSE:JXN) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,153 shares of the company’s stock after selling 1,356 shares during the quarter. Rathbones Group PLC’s holdings in Jackson Financial were worth $2,536,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. acquired a new position in Jackson Financial in the 2nd quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after purchasing an additional 316 shares during the period. GAMMA Investing LLC raised its stake in shares of Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Jackson Financial during the first quarter worth $66,000. Finally, CWM LLC grew its position in Jackson Financial by 80.5% in the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after buying an additional 457 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Up 1.7 %

Jackson Financial stock opened at $85.01 on Tuesday. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 2.25 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a fifty-two week low of $35.27 and a fifty-two week high of $90.10. The stock’s fifty day moving average is $83.14 and its two-hundred day moving average is $74.32.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm earned $3.34 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts predict that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.29%. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Analyst Ratings Changes

Several brokerages have recently weighed in on JXN. Barclays initiated coverage on shares of Jackson Financial in a report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Evercore ISI reduced their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Morgan Stanley upped their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group increased their price objective on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $80.00.

About Jackson Financial

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.