Focus Financial Network Inc. Grows Position in Jackson Financial Inc. $JXN

Focus Financial Network Inc. increased its position in shares of Jackson Financial Inc. (NYSE:JXN) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,791 shares of the company’s stock after acquiring an additional 329 shares during the period. Focus Financial Network Inc.’s holdings in Jackson Financial were worth $337,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Amundi raised its position in Jackson Financial by 90.1% in the 1st quarter. Amundi now owns 143,795 shares of the company’s stock valued at $12,047,000 after purchasing an additional 68,138 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Jackson Financial by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 2,108 shares of the company’s stock worth $177,000 after acquiring an additional 330 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Jackson Financial by 13.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company’s stock worth $388,000 after acquiring an additional 547 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Jackson Financial by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 429,789 shares of the company’s stock worth $36,008,000 after acquiring an additional 11,805 shares in the last quarter. Finally, Richard Bernstein Advisors LLC acquired a new stake in shares of Jackson Financial during the 1st quarter worth about $3,069,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Trading Up 1.1%

Shares of JXN stock opened at $100.70 on Monday. The business’s 50 day moving average is $93.15 and its two-hundred day moving average is $85.92. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The company has a market capitalization of $7.01 billion, a P/E ratio of -1,678.05 and a beta of 1.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46.

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

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, September 15th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is currently -5,333.33%.

Jackson Financial announced that its board has approved a stock repurchase plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 14.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Jackson Financial from $92.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Barclays raised their price target on Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Jefferies Financial Group raised their price target on Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Zacks Research downgraded Jackson Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Finally, Keefe, Bruyette & Woods raised their price target on Jackson Financial from $102.00 to $105.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and a consensus target price of $101.20.

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.