Mitsubishi UFJ Trust & Banking Corp Increases Stock Holdings in Jackson Financial Inc. $JXN

Mitsubishi UFJ Trust & Banking Corp grew its stake in Jackson Financial Inc. (NYSE:JXN) by 13.7% during the second quarter, HoldingsChannel reports. The firm owned 102,942 shares of the company’s stock after purchasing an additional 12,412 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Jackson Financial were worth $9,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG lifted its holdings in Jackson Financial by 11.7% in the first quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company’s stock valued at $106,000 after acquiring an additional 133 shares during the period. Triumph Capital Management increased its holdings in shares of Jackson Financial by 3.6% in the 2nd quarter. Triumph Capital Management now owns 3,990 shares of the company’s stock valued at $354,000 after purchasing an additional 138 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Jackson Financial by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 12,857 shares of the company’s stock valued at $1,142,000 after purchasing an additional 142 shares in the last quarter. CWM LLC lifted its stake in shares of Jackson Financial by 7.9% in the first quarter. CWM LLC now owns 1,975 shares of the company’s stock valued at $165,000 after purchasing an additional 145 shares during the period. Finally, Tcfg Wealth Management LLC boosted its holdings 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 in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Up 0.3%

JXN opened at $94.56 on Monday. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $104.61. The firm has a 50 day moving average price of $98.21 and a 200 day moving average price of $91.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $6.43 billion, a PE ratio of 13.08 and a beta of 1.45.

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

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

Jackson Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on JXN shares. Evercore ISI boosted their target price on Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, October 9th. Morgan Stanley boosted their price objective on shares of Jackson Financial from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Barclays raised their target price 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. Finally, Keefe, Bruyette & Woods upped 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $109.80.

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.