IFP Advisors Inc Trims Position in Jackson Financial Inc. $JXN

IFP Advisors Inc lessened its position in shares of Jackson Financial Inc. (NYSE:JXN) by 14.7% in the second quarter, Holdings Channel reports. The fund owned 2,262 shares of the company’s stock after selling 391 shares during the quarter. IFP Advisors Inc’s holdings in Jackson Financial were worth $201,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tcfg Wealth Management LLC increased its position in Jackson Financial by 3.5% in the second quarter. Tcfg Wealth Management LLC now owns 4,356 shares of the company’s stock worth $387,000 after buying an additional 149 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Jackson Financial by 27.9% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 4,981 shares of the company’s stock worth $442,000 after buying an additional 1,087 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Jackson Financial by 12.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 82,163 shares of the company’s stock worth $7,295,000 after buying an additional 8,840 shares in the last quarter. PFG Investments LLC purchased a new stake in Jackson Financial in the second quarter worth about $216,000. Finally, Janney Montgomery Scott LLC increased its position in Jackson Financial by 1.9% in the second quarter. Janney Montgomery Scott LLC now owns 54,447 shares of the company’s stock worth $4,834,000 after buying an additional 1,014 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

JXN has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Jackson Financial from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Evercore ISI increased their target price on Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, October 9th. Barclays increased their target price on Jackson Financial from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Jackson Financial in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.20.

Jackson Financial Price Performance

Shares of Jackson Financial stock opened at $96.16 on Friday. The stock has a 50 day moving average of $98.14 and a 200 day moving average of $88.13. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22. The firm has a market cap of $6.70 billion, a PE ratio of -1,602.37 and a beta of 1.45. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last posted 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 return on equity of 14.73% and a net margin of 1.73%. On average, research analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were paid 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 was Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is presently -5,333.33%.

Jackson Financial announced that its board has initiated a stock repurchase plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 14.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.