Allspring Global Investments Holdings LLC Sells 5,384 Shares of Jackson Financial Inc. $JXN

Allspring Global Investments Holdings LLC lessened its holdings in Jackson Financial Inc. (NYSE:JXN) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 99,718 shares of the company’s stock after selling 5,384 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Jackson Financial were worth $8,901,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. CWM LLC increased its position in Jackson Financial by 39.8% in the second quarter. CWM LLC now owns 2,762 shares of the company’s stock worth $245,000 after purchasing an additional 787 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Jackson Financial during the second quarter worth $202,000. Tcfg Wealth Management LLC boosted its stake in Jackson Financial by 3.5% during 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 during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in Jackson Financial by 27.9% during 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 during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Jackson Financial by 12.1% during 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 during the period. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Barclays lifted their price objective on shares of Jackson Financial from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Evercore ISI lifted their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research note on Thursday, October 9th. Finally, Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.20.

Jackson Financial Stock Up 1.7%

NYSE:JXN opened at $96.16 on Monday. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The company has a market cap of $6.70 billion, a price-to-earnings ratio of -1,602.37 and a beta of 1.45. The stock has a fifty day simple moving average of $98.14 and a 200-day simple moving average of $88.22. 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 released its earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The business had revenue of ($1,162.00) million during the quarter. Analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

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

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. Jackson Financial’s dividend payout ratio is -5,333.33%.

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.