Fifth Third Bancorp Sells 122 Shares of Jackson Financial Inc. $JXN

Fifth Third Bancorp reduced its position in Jackson Financial Inc. (NYSE:JXN) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,661 shares of the company’s stock after selling 122 shares during the quarter. Fifth Third Bancorp’s holdings in Jackson Financial were worth $147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in JXN. Versant Capital Management Inc grew its holdings in shares of Jackson Financial by 161.9% during the 1st quarter. Versant Capital Management Inc now owns 550 shares of the company’s stock valued at $46,000 after purchasing an additional 340 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Jackson Financial by 9,833.0% during the 1st quarter. GAMMA Investing LLC now owns 176,608 shares of the company’s stock valued at $14,796,000 after purchasing an additional 174,830 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Jackson Financial during the 1st quarter valued at approximately $37,000. RFG Advisory LLC grew its holdings in shares of Jackson Financial by 1.4% during the 1st quarter. RFG Advisory LLC now owns 16,924 shares of the company’s stock valued at $1,418,000 after purchasing an additional 226 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Jackson Financial by 15.9% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 3,894 shares of the company’s stock valued at $326,000 after purchasing an additional 535 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Performance

NYSE JXN opened at $101.23 on Thursday. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22. The company has a 50-day simple moving average of $95.48 and a 200 day simple moving average of $86.99. 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 company has a market capitalization of $7.05 billion, a PE ratio of -1,686.80 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data 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. The business had revenue of ($471.00) million during the quarter, compared to the consensus estimate of $1.77 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $5.32 earnings per share. On average, research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial declared that its board has approved a share repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were given 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 -5,333.33%.

Wall Street Analysts Forecast Growth

JXN has been the topic of several research reports. Zacks Research lowered shares of Jackson Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Morgan Stanley upped their price objective 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 upped their price objective on shares of Jackson Financial from $108.00 to $114.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Jefferies Financial Group increased their target price on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods increased their target price 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. 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.com, the company presently has an average rating of “Hold” and a consensus target price of $101.20.

Jackson Financial Company 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.