Franklin Resources Inc. Reduces Position in Jackson Financial Inc. $JXN

Franklin Resources Inc. decreased its holdings in Jackson Financial Inc. (NYSE:JXN) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,667 shares of the company’s stock after selling 774 shares during the period. Franklin Resources Inc. owned approximately 0.13% of Jackson Financial worth $8,405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in JXN. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Jackson Financial by 111.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares in the last quarter. Brooklyn Investment Group boosted its stake in Jackson Financial by 987.0% during the first quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock worth $42,000 after buying an additional 454 shares during the last quarter. Sound Income Strategies LLC grew its holdings in Jackson Financial by 1,342.9% in the 2nd quarter. Sound Income Strategies LLC now owns 505 shares of the company’s stock valued at $45,000 after buying an additional 470 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Jackson Financial by 62.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock worth $50,000 after acquiring an additional 215 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of Jackson Financial in the 1st quarter worth $46,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

NYSE:JXN opened at $98.01 on Friday. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $104.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. The company has a 50 day moving average price of $97.66 and a 200 day moving average price of $92.27. The stock has a market capitalization of $6.66 billion, a P/E ratio of 13.56 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. Jackson Financial had a return on equity of 15.73% and a net margin of 1.73%.The company had revenue of ($1,162.00) million for the quarter. Equities research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Thursday, December 4th. Jackson Financial’s dividend payout ratio (DPR) is 44.26%.

Jackson Financial announced that its Board of Directors has initiated a share buyback program on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 14.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

JXN has been the topic of several recent research reports. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Barclays increased their price target on shares of Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Tuesday. Jefferies Financial Group increased their price objective on Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Finally, Morgan Stanley cut their target price on Jackson Financial from $106.00 to $101.00 and set an “equal weight” rating for the company in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $108.80.

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.