DekaBank Deutsche Girozentrale Trims Stock Holdings in Jackson Financial Inc. $JXN

DekaBank Deutsche Girozentrale trimmed its holdings in Jackson Financial Inc. (NYSE:JXN) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,791 shares of the company’s stock after selling 1,153 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Jackson Financial were worth $9,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of JXN. Nuveen LLC purchased a new position in Jackson Financial in the 1st quarter valued at approximately $43,830,000. Millennium Management LLC grew its stake in Jackson Financial by 296.7% in the 1st quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock valued at $55,166,000 after buying an additional 492,492 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Jackson Financial by 144.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company’s stock valued at $21,239,000 after buying an additional 149,799 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in Jackson Financial by 7.0% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,666,047 shares of the company’s stock valued at $139,581,000 after buying an additional 108,758 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Jackson Financial in the 1st quarter valued at approximately $8,177,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on JXN. Evercore ISI raised their price target on shares of Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, October 9th. Morgan Stanley lifted their price objective on shares of Jackson Financial from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Barclays lifted their price objective on shares of Jackson Financial from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, August 11th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.20.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $97.57 on Friday. The stock has a market cap of $6.80 billion, a PE ratio of -1,625.85 and a beta of 1.45. The company’s fifty day moving average is $98.37 and its 200 day moving average is $88.72. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $115.22. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last issued its 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 net margin of 1.73% and a return on equity of 14.73%. Research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is presently -5,333.33%.

Jackson Financial declared that its Board of Directors has approved a share repurchase program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 14.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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.