Acadian Asset Management LLC Acquires 724,148 Shares of Jackson Financial Inc. (NYSE:JXN)

Acadian Asset Management LLC boosted its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 146.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,219,218 shares of the company’s stock after purchasing an additional 724,148 shares during the quarter. Acadian Asset Management LLC’s holdings in Jackson Financial were worth $90,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JXN. Hantz Financial Services Inc. bought a new stake in shares of Jackson Financial during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares during the period. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 154 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of Jackson Financial in the fourth quarter valued at approximately $57,000. Finally, Valued Wealth Advisors LLC bought a new position in shares of Jackson Financial during the first quarter worth approximately $66,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JXN. Evercore ISI decreased their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Barclays assumed coverage on shares of Jackson Financial in a research note on Wednesday. They issued an “overweight” rating and a $109.00 price objective for the company. Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Finally, Jefferies Financial Group lifted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.00.

Jackson Financial Trading Down 4.3 %

Shares of Jackson Financial stock opened at $81.20 on Friday. The firm’s 50-day moving average price is $82.30 and its two-hundred day moving average price is $72.80. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 2.14 and a beta of 1.50. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 12-month low of $35.27 and a 12-month high of $90.10.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results 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 firm 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 business posted $3.34 EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that Jackson Financial Inc. will post 18.49 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm 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 of this dividend is Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.45%. Jackson Financial’s dividend payout ratio (DPR) is currently 7.40%.

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.