Jackson Financial Inc. $JXN is Ibex Wealth Advisors’ 8th Largest Position

Ibex Wealth Advisors lifted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,772 shares of the company’s stock after buying an additional 5,140 shares during the quarter. Jackson Financial comprises 1.9% of Ibex Wealth Advisors’ investment portfolio, making the stock its 8th biggest position. Ibex Wealth Advisors’ holdings in Jackson Financial were worth $17,383,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vise Technologies Inc. purchased a new stake in shares of Jackson Financial during the second quarter worth $438,000. Illinois Municipal Retirement Fund raised its stake in shares of Jackson Financial by 1.2% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 67,359 shares of the company’s stock valued at $5,981,000 after purchasing an additional 829 shares during the period. Acadian Asset Management LLC lifted its holdings in Jackson Financial by 1.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after purchasing an additional 20,212 shares in the last quarter. CSM Advisors LLC bought a new position in Jackson Financial in the 2nd quarter worth about $5,160,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Jackson Financial during the 2nd quarter valued at about $608,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Evercore ISI raised their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, October 9th. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Barclays lifted their price objective on Jackson Financial from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley upped their target price on Jackson Financial from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Jefferies Financial Group raised 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and a consensus target price of $109.80.

Jackson Financial Stock Up 0.8%

Shares of NYSE:JXN opened at $92.85 on Monday. The firm 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 firm has a fifty day moving average of $98.53 and a 200 day moving average of $90.98.

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

Jackson Financial Dividend Announcement

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

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

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.