Ibex Wealth Advisors Increases Stock Holdings in Jackson Financial Inc. $JXN

Ibex Wealth Advisors raised its position in Jackson Financial Inc. (NYSE:JXN) by 2.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 195,772 shares of the company’s stock after acquiring an additional 5,140 shares during the period. Jackson Financial makes up about 1.9% of Ibex Wealth Advisors’ holdings, making the stock its 8th largest position. Ibex Wealth Advisors owned 0.27% of Jackson Financial worth $17,383,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Amundi boosted its stake in Jackson Financial by 90.1% during the 1st quarter. Amundi now owns 143,795 shares of the company’s stock valued at $12,047,000 after purchasing an additional 68,138 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Jackson Financial in the first quarter worth approximately $304,000. CW Advisors LLC bought a new position in shares of Jackson Financial in the first quarter valued at approximately $547,000. EP Wealth Advisors LLC purchased a new position in shares of Jackson Financial during the first quarter valued at approximately $257,000. Finally, Ancora Advisors LLC boosted its position in shares of Jackson Financial by 29.5% during the first quarter. Ancora Advisors LLC now owns 91,740 shares of the company’s stock valued at $7,686,000 after buying an additional 20,910 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

NYSE JXN opened at $92.85 on Monday. The company has a market capitalization of $6.47 billion, a PE ratio of 12.84 and a beta of 1.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22. The company has a 50-day simple moving average of $98.53 and a 200 day simple moving average of $90.98.

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 net margin of 1.73% and a return on equity of 15.73%. The firm had revenue of ($1,162.00) million for the quarter. On average, research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, December 4th. Jackson Financial’s dividend payout ratio is 44.26%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group raised their price objective on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Morgan Stanley increased their target price on shares of Jackson Financial from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Barclays raised their price target on shares of Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Evercore ISI increased their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock 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.