Park Avenue Securities LLC Has $349,000 Position in Jackson Financial Inc. $JXN

Park Avenue Securities LLC boosted its position in Jackson Financial Inc. (NYSE:JXN) by 37.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,931 shares of the company’s stock after purchasing an additional 1,081 shares during the period. Park Avenue Securities LLC’s holdings in Jackson Financial were worth $349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Raiffeisen Bank International AG boosted its position in shares of Jackson Financial by 11.7% during the 1st quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company’s stock valued at $106,000 after purchasing an additional 133 shares in the last quarter. Triumph Capital Management boosted its position in shares of Jackson Financial by 3.6% during the 2nd quarter. Triumph Capital Management now owns 3,990 shares of the company’s stock valued at $354,000 after purchasing an additional 138 shares in the last quarter. CWM LLC boosted its position in shares of Jackson Financial by 7.9% during the 1st quarter. CWM LLC now owns 1,975 shares of the company’s stock valued at $165,000 after purchasing an additional 145 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Jackson Financial by 1.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,096 shares of the company’s stock valued at $1,181,000 after purchasing an additional 166 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Jackson Financial by 2.5% during the 1st quarter. Xponance Inc. now owns 6,738 shares of the company’s stock valued at $565,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Down 0.9%

JXN stock opened at $101.11 on Wednesday. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. 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 stock’s 50 day moving average is $95.24 and its 200-day moving average is $86.89. The firm has a market capitalization of $7.04 billion, a PE ratio of -1,684.89 and a beta of 1.46.

Jackson Financial (NYSE:JXN) last posted its earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.77 billion. During the same quarter last year, the company earned $5.32 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Sell-side analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

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

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $102.00 to $105.00 and gave the company a “market perform” rating in a research report on Monday, August 11th. Jefferies Financial Group upped their target price on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Morgan Stanley upped their target price on Jackson Financial from $92.00 to $97.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. 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. Finally, Zacks Research lowered Jackson Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Jackson Financial 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.