EP Wealth Advisors LLC Buys New Stake in Jackson Financial Inc. $JXN

EP Wealth Advisors LLC purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,072 shares of the company’s stock, valued at approximately $257,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its stake in shares of Jackson Financial by 385.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company’s stock valued at $73,288,000 after purchasing an additional 694,518 shares during the period. Nuveen LLC acquired a new stake in Jackson Financial in the 1st quarter valued at $43,830,000. GAMMA Investing LLC boosted its stake in Jackson Financial by 9,833.0% in the 1st quarter. GAMMA Investing LLC now owns 176,608 shares of the company’s stock valued at $14,796,000 after buying an additional 174,830 shares in the last quarter. Millennium Management LLC grew its position in Jackson Financial by 3,818.2% in the fourth quarter. Millennium Management LLC now owns 165,976 shares of the company’s stock valued at $14,453,000 after acquiring an additional 161,740 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in Jackson Financial by 144.4% during the first quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company’s stock worth $21,239,000 after acquiring an additional 149,799 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on JXN. Morgan Stanley boosted their target price on shares of Jackson Financial from $92.00 to $97.00 and gave the company an “equal weight” rating in a research note on Monday, August 18th. Barclays lifted their price target on shares of Jackson Financial from $108.00 to $114.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. Finally, Jefferies Financial Group lifted their target price on shares of Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.20.

Jackson Financial Stock Up 0.4%

Shares of NYSE:JXN opened at $96.35 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46. The firm has a market cap of $6.71 billion, a P/E ratio of -1,605.57 and a beta of 1.46. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22. The company’s 50-day moving average price is $91.60 and its two-hundred day moving average price is $85.32.

Jackson Financial (NYSE:JXN) last announced its earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.61 by $0.26. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The company had revenue of ($471.00) million for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business earned $5.32 earnings per share. Jackson Financial’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is presently -5,333.33%.

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.