Jackson Financial Inc. (NYSE:JXN) Holdings Lifted by Denali Advisors LLC

Denali Advisors LLC grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 2.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 93,600 shares of the company’s stock after acquiring an additional 2,400 shares during the quarter. Jackson Financial makes up 1.9% of Denali Advisors LLC’s investment portfolio, making the stock its 4th biggest position. Denali Advisors LLC’s holdings in Jackson Financial were worth $6,951,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new position in shares of Jackson Financial in the fourth quarter worth approximately $497,000. Avantax Advisory Services Inc. bought a new position in shares of Jackson Financial in the fourth quarter worth approximately $230,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Jackson Financial by 23.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,391 shares of the company’s stock worth $4,986,000 after purchasing an additional 18,472 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Jackson Financial in the fourth quarter worth approximately $316,000. Finally, Norges Bank bought a new position in shares of Jackson Financial in the fourth quarter worth approximately $51,189,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

Shares of JXN stock opened at $85.01 on Tuesday. The company’s fifty day moving average price is $83.14 and its 200-day moving average price is $74.32. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a market cap of $6.48 billion, a PE ratio of 2.25 and a beta of 1.50. 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 company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Jackson Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.34 EPS. On average, equities analysts expect that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

JXN has been the topic of several recent analyst reports. Jefferies Financial Group raised their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Morgan Stanley lifted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Barclays began coverage on shares of Jackson Financial in a report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Finally, Evercore ISI dropped their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $80.00.

Jackson Financial Profile

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.