Voya Investment Management LLC Has $2.06 Million Stock Position in Jackson Financial Inc. $JXN

Voya Investment Management LLC lowered its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,538 shares of the company’s stock after selling 896 shares during the period. Voya Investment Management LLC’s holdings in Jackson Financial were worth $2,056,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Jackson Financial by 385.3% in the first quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company’s stock worth $73,288,000 after acquiring an additional 694,518 shares in the last quarter. Nuveen LLC bought a new position in Jackson Financial in the first quarter worth approximately $43,830,000. Millennium Management LLC boosted its holdings in Jackson Financial by 296.7% in the first quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock worth $55,166,000 after acquiring an additional 492,492 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Jackson Financial by 9,833.0% in the first quarter. GAMMA Investing LLC now owns 176,608 shares of the company’s stock worth $14,796,000 after acquiring an additional 174,830 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Jackson Financial by 144.4% in 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. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

JXN has been the topic of several recent research reports. Barclays increased their price target on Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. Zacks Research lowered Jackson Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $102.00 to $105.00 and gave the company a “market perform” rating in a report on Monday, August 11th. Morgan Stanley raised their target price on Jackson Financial from $92.00 to $97.00 and gave the company an “equal weight” rating in a report on Monday, August 18th. Finally, Jefferies Financial Group raised their target price on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a report on Monday, August 11th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.20.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $100.70 on Monday. The stock has a market cap of $7.01 billion, a PE ratio of -1,678.05 and a beta of 1.46. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a fifty day moving average of $93.15 and a 200-day moving average of $85.92.

Jackson Financial (NYSE:JXN) last announced its quarterly 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. The company had revenue of ($471.00) million during the quarter, compared to analysts’ expectations of $1.77 billion. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.32 earnings per share. Equities research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

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

Jackson Financial declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board 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.