Wesleyan Assurance Society Trims Holdings in Jackson Financial Inc. $JXN

Wesleyan Assurance Society decreased its holdings in Jackson Financial Inc. (NYSE:JXN) by 30.2% during the second quarter, HoldingsChannel.com reports. The firm owned 62,400 shares of the company’s stock after selling 27,032 shares during the quarter. Wesleyan Assurance Society’s holdings in Jackson Financial were worth $5,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group increased its stake in Jackson Financial by 987.0% in the first quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock worth $42,000 after purchasing an additional 454 shares during the period. Sound Income Strategies LLC increased its stake in Jackson Financial by 1,342.9% in the second quarter. Sound Income Strategies LLC now owns 505 shares of the company’s stock worth $45,000 after purchasing an additional 470 shares during the period. Banque Transatlantique SA bought a new position in shares of Jackson Financial during the 1st quarter worth $46,000. New Age Alpha Advisors LLC bought a new position in shares of Jackson Financial during the 1st quarter worth $67,000. Finally, Raiffeisen Bank International AG grew its position in shares of Jackson Financial by 11.7% during the 1st quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company’s stock worth $106,000 after buying an additional 133 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 JXN stock opened at $99.27 on Monday. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22. The stock’s 50-day moving average is $98.47 and its 200 day moving average is $89.13. The company has a market cap of $6.91 billion, a P/E ratio of -1,654.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data 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 company had revenue of ($1,162.00) million for the quarter. Research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is currently -5,333.33%.

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

Analysts Set New Price Targets

JXN has been the topic of a number of recent research reports. Barclays increased their price target on Jackson Financial from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Zacks Research raised Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Keefe, Bruyette & Woods increased their price target 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. Jefferies Financial Group increased their price target 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, Weiss Ratings reissued a “hold (c-)” rating on shares of Jackson Financial in a research report on Saturday. One 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 assigned a Sell rating to the company. According to MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and an average target price of $109.20.

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.