Tcfg Wealth Management LLC Has $387,000 Stock Holdings in Jackson Financial Inc. $JXN

Tcfg Wealth Management LLC grew its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,356 shares of the company’s stock after purchasing an additional 149 shares during the period. Tcfg Wealth Management LLC’s holdings in Jackson Financial were worth $387,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of JXN. Assenagon Asset Management S.A. lifted its position in shares of Jackson Financial by 385.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company’s stock valued at $73,288,000 after acquiring an additional 694,518 shares in the last quarter. Nuveen LLC purchased a new position in Jackson Financial during the 1st quarter worth approximately $43,830,000. Millennium Management LLC raised its stake in Jackson Financial by 296.7% during the 1st quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock valued at $55,166,000 after purchasing an additional 492,492 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Jackson Financial by 144.4% in the first quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company’s stock valued at $21,239,000 after purchasing an additional 149,799 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its holdings in shares of Jackson Financial by 7.0% in the first quarter. Donald Smith & CO. Inc. now owns 1,666,047 shares of the company’s stock valued at $139,581,000 after purchasing an additional 108,758 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a report on Monday, August 11th. Barclays lifted their target price on Jackson Financial from $108.00 to $114.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Jackson Financial in a report on Saturday, September 27th. Morgan Stanley increased their price target on shares of Jackson Financial from $92.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Finally, Zacks Research downgraded shares of Jackson Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and a consensus target price of $101.20.

Jackson Financial Stock Down 2.1%

JXN opened at $101.59 on Tuesday. The company has a market capitalization of $7.08 billion, a PE ratio of -1,692.88 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 Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22. The business has a 50-day moving average of $96.33 and a 200-day moving average of $87.42.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, beating the consensus estimate of $4.61 by $0.26. The business had revenue of ($471.00) million during the quarter, compared to analysts’ expectations of $1.77 billion. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.32 EPS. Equities research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.1%. Jackson Financial’s dividend payout ratio is -5,333.33%.

Jackson Financial announced that its board has initiated a stock repurchase plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

Jackson Financial Company 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.