Cresset Asset Management LLC Has $1.84 Million Stock Position in Jackson Financial Inc. $JXN

Cresset Asset Management LLC reduced its position in Jackson Financial Inc. (NYSE:JXN) by 26.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,714 shares of the company’s stock after selling 7,635 shares during the period. Cresset Asset Management LLC’s holdings in Jackson Financial were worth $1,839,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in JXN. PNC Financial Services Group Inc. boosted its stake in Jackson Financial by 8.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,366 shares of the company’s stock worth $282,000 after purchasing an additional 248 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Jackson Financial in the first quarter worth $67,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Jackson Financial by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,084,560 shares of the company’s stock valued at $90,864,000 after buying an additional 5,320 shares in the last quarter. Citigroup Inc. raised its position in Jackson Financial by 38.3% during the first quarter. Citigroup Inc. now owns 276,408 shares of the company’s stock valued at $23,157,000 after buying an additional 76,608 shares during the period. Finally, Townsquare Capital LLC purchased a new stake in Jackson Financial in the 1st quarter worth about $368,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Performance

JXN stock opened at $98.54 on Tuesday. The firm has a 50 day moving average of $97.17 and a two-hundred day moving average of $92.93. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $104.61. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 13.63 and a beta of 1.45. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The business 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%. As a group, equities analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial declared that its Board of Directors has approved a share buyback plan on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 14.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, December 4th. Jackson Financial’s dividend payout ratio is 44.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 1st. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Morgan Stanley dropped their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Finally, Barclays boosted their price target on shares of Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and a consensus price target of $108.80.

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.