Hillsdale Investment Management Inc. Has $5.39 Million Position in Jackson Financial Inc. $JXN

Hillsdale Investment Management Inc. grew its stake in Jackson Financial Inc. (NYSE:JXN) by 48.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 60,700 shares of the company’s stock after purchasing an additional 19,800 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Jackson Financial were worth $5,390,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in Jackson Financial by 31.0% in the first quarter. Envestnet Asset Management Inc. now owns 19,049 shares of the company’s stock valued at $1,596,000 after purchasing an additional 4,511 shares in the last quarter. Cerity Partners LLC raised its stake in Jackson Financial by 9.1% in the first quarter. Cerity Partners LLC now owns 5,383 shares of the company’s stock valued at $451,000 after buying an additional 448 shares during the period. CWM LLC boosted its stake in shares of Jackson Financial by 7.9% during the 1st quarter. CWM LLC now owns 1,975 shares of the company’s stock worth $165,000 after acquiring an additional 145 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Jackson Financial by 1.1% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 149,225 shares of the company’s stock worth $12,502,000 after acquiring an additional 1,636 shares during the last quarter. Finally, Brookwood Investment Group LLC bought a new stake in Jackson Financial in the 1st quarter valued at $426,000. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 2.1%

Shares of JXN opened at $93.75 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $104.61. The firm’s 50 day moving average is $97.70 and its 200-day moving average is $91.80. The stock has a market capitalization of $6.37 billion, a PE ratio of 12.97 and a beta of 1.45.

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

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

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued 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 (DPR) is currently 44.26%.

Wall Street Analysts Forecast Growth

Several research firms have commented on JXN. Keefe, Bruyette & Woods upped their price objective 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. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Barclays increased their price target on shares of Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Morgan Stanley reduced their price objective on Jackson Financial from $106.00 to $101.00 and set an “equal weight” rating for the company in a report on Monday, November 17th. Finally, 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 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.80.

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.