Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in Jackson Financial Inc. (NYSE:JXN)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,917 shares of the company’s stock after selling 1,231 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Jackson Financial were worth $1,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in JXN. GAMMA Investing LLC lifted its holdings in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Jackson Financial by 18.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock worth $101,000 after buying an additional 235 shares during the last quarter. Asset Allocation Strategies LLC increased its stake in Jackson Financial by 1.4% during the 4th quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock worth $886,000 after buying an additional 242 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Jackson Financial by 18.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock valued at $84,000 after acquiring an additional 250 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Jackson Financial by 3.0% in the second quarter. QRG Capital Management Inc. now owns 9,089 shares of the company’s stock valued at $675,000 after acquiring an additional 264 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Trading Up 3.1 %

Shares of JXN stock opened at $89.97 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a twelve month low of $35.27 and a twelve month high of $90.10. The company’s 50-day moving average price is $81.12 and its 200-day moving average price is $71.79. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 2.38 and a beta of 1.51.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, beating the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 earnings per share. As a group, equities analysts predict that Jackson Financial Inc. will post 17.33 earnings per share for the current year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.11%. Jackson Financial’s payout ratio is 7.40%.

Analyst Ratings Changes

Several brokerages recently commented on JXN. Morgan Stanley boosted their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI reduced their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Jefferies Financial Group boosted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price objective 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. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.20.

Insiders Place Their Bets

In other Jackson Financial news, CFO Don W. Cummings purchased 1,445 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $72.70 per share, for a total transaction of $105,051.50. Following the acquisition, the chief financial officer now owns 45,711 shares in the company, valued at approximately $3,323,189.70. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

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.