Janney Montgomery Scott LLC Has $4.83 Million Stock Position in Jackson Financial Inc. $JXN

Janney Montgomery Scott LLC grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,447 shares of the company’s stock after buying an additional 1,014 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of Jackson Financial worth $4,834,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JXN. NBC Securities Inc. acquired a new position in shares of Jackson Financial during the first quarter valued at about $37,000. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Jackson Financial by 15.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,894 shares of the company’s stock valued at $326,000 after buying an additional 535 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of Jackson Financial during the first quarter valued at about $239,000. Farther Finance Advisors LLC grew its holdings in shares of Jackson Financial by 216.9% during the first quarter. Farther Finance Advisors LLC now owns 4,751 shares of the company’s stock valued at $401,000 after buying an additional 3,252 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Jackson Financial by 23.2% during the first quarter. Harbor Capital Advisors Inc. now owns 1,636 shares of the company’s stock valued at $137,000 after purchasing an additional 308 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of Jackson Financial from $108.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Jackson Financial in a research report on Saturday, September 27th. Zacks Research lowered shares of Jackson Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the company a “market perform” rating in a research report on Monday, August 11th. Finally, Jefferies Financial Group raised their price target on shares of Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $101.20.

Jackson Financial Stock Performance

NYSE JXN opened at $101.59 on Tuesday. The company’s 50 day moving average is $96.33 and its 200-day moving average is $87.42. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-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 firm has a market cap of $7.08 billion, a P/E ratio of -1,692.88 and a beta of 1.45.

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

Jackson Financial declared that its board has approved a share buyback program on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 14.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. Jackson Financial’s payout ratio is currently -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.