Axa S.A. Takes $5.69 Million Position in Jackson Financial Inc. (NYSE:JXN)

Axa S.A. bought a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 76,598 shares of the company’s stock, valued at approximately $5,688,000. Axa S.A. owned about 0.10% of Jackson Financial at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in shares of Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after purchasing an additional 724,148 shares during the last quarter. LSV Asset Management grew its holdings in Jackson Financial by 2,459.7% during the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock worth $32,625,000 after purchasing an additional 422,175 shares during the period. Donald Smith & CO. Inc. increased its position in Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after buying an additional 397,287 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Jackson Financial in the first quarter valued at approximately $21,892,000. Finally, Vest Financial LLC lifted its position in shares of Jackson Financial by 6,248.0% in the first quarter. Vest Financial LLC now owns 298,928 shares of the company’s stock valued at $19,771,000 after buying an additional 294,219 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Barclays assumed coverage on shares of Jackson Financial in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 price objective on the stock. Evercore ISI cut 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 note 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. Finally, Jefferies Financial Group raised their price objective 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. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and an average price target of $80.00.

Insider Transactions at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the transaction, the executive vice president now owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Jackson Financial Trading Up 1.1 %

Shares of Jackson Financial stock opened at $91.35 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a 50-day moving average of $84.93 and a 200-day moving average of $76.08. Jackson Financial Inc. has a 52-week low of $35.27 and a 52-week high of $92.65. The stock has a market cap of $6.87 billion, a PE ratio of 2.41 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company earned $3.34 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Jackson Financial Inc. will post 18.49 EPS for the current year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.07%. Jackson Financial’s payout ratio is 7.40%.

Jackson Financial announced that its board has authorized a stock repurchase program on Wednesday, August 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.