Jackson Financial Inc. $JXN Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 802,941 shares of the company’s stock after selling 134,631 shares during the period. Federated Hermes Inc. owned approximately 1.12% of Jackson Financial worth $71,293,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in JXN. Donald Smith & CO. Inc. boosted its position in Jackson Financial by 2.0% in the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after buying an additional 33,040 shares during the last quarter. StoneX Group Inc. purchased a new position in shares of Jackson Financial in the 2nd quarter valued at about $212,000. Marshall Wace LLP purchased a new position in Jackson Financial during the second quarter worth approximately $986,000. EverSource Wealth Advisors LLC boosted its position in Jackson Financial by 55.5% during the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $81,000 after purchasing an additional 325 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Jackson Financial by 21.3% in the second quarter. Invesco Ltd. now owns 719,575 shares of the company’s stock valued at $63,891,000 after buying an additional 126,264 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $98.39 on Monday. The firm has a 50-day simple moving average of $97.24 and a 200-day simple moving average of $92.81. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 13.61 and a beta of 1.45. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $104.61.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The company had revenue of ($1,162.00) million during the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 15.73%. On average, equities analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

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

Jackson Financial declared that its board has authorized a share buyback program on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 14.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Jefferies Financial Group increased 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. Evercore ISI increased their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 1st. Zacks Research upgraded shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Morgan Stanley decreased their price target on shares of Jackson Financial from $106.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $108.80.

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.