Atria Investments Inc Boosts Stock Position in Jackson Financial Inc. $JXN

Atria Investments Inc grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,617 shares of the company’s stock after buying an additional 1,144 shares during the quarter. Atria Investments Inc’s holdings in Jackson Financial were worth $765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in JXN. Brooklyn Investment Group increased its position in shares of Jackson Financial by 987.0% in the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock worth $42,000 after purchasing an additional 454 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Jackson Financial by 1,342.9% during 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 last quarter. Banque Transatlantique SA acquired a new position in Jackson Financial in the first quarter worth about $46,000. Hantz Financial Services Inc. increased its holdings in Jackson Financial by 62.7% in the second quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock valued at $50,000 after buying an additional 215 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Jackson Financial in the first quarter valued at about $67,000. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 0.8%

JXN opened at $92.85 on Friday. The stock’s 50 day moving average price is $98.53 and its 200 day moving average price is $90.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.28. The stock has a market cap of $6.47 billion, a P/E ratio of 12.84 and a beta of 1.45. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22.

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

Jackson Financial declared that its board 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 stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Jackson Financial Announces Dividend

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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, December 4th. Jackson Financial’s dividend payout ratio is currently 44.26%.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of research analyst reports. Evercore ISI increased their target price on Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, October 9th. Barclays lifted their price objective on shares of Jackson Financial from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Jackson Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Finally, Morgan Stanley boosted their price objective on shares of Jackson Financial from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given 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, Jackson Financial currently has an average rating of “Hold” and an average price target of $109.80.

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.