Fox Run Management L.L.C. Lowers Stake in Jackson Financial Inc. $JXN

Fox Run Management L.L.C. cut its stake in Jackson Financial Inc. (NYSE:JXN) by 67.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,244 shares of the company’s stock after selling 13,208 shares during the quarter. Fox Run Management L.L.C.’s holdings in Jackson Financial were worth $554,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brooklyn Investment Group grew its stake in Jackson Financial by 987.0% in the first quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock valued at $42,000 after purchasing an additional 454 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Jackson Financial by 1,342.9% in the 2nd quarter. Sound Income Strategies LLC now owns 505 shares of the company’s stock valued at $45,000 after buying an additional 470 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Jackson Financial in the 1st quarter worth approximately $46,000. Hantz Financial Services Inc. raised its stake in shares of Jackson Financial by 62.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock worth $50,000 after acquiring an additional 215 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Jackson Financial during the first quarter valued at approximately $67,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JXN shares. Morgan Stanley upped their price target on 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 upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Jackson Financial in a report on Wednesday, October 8th. Barclays upped their price objective 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 boosted their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $109.80.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $93.49 on Wednesday. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $114.46. The business’s 50 day moving average price is $98.34 and its 200 day moving average price is $91.21. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The firm has a market cap of $6.51 billion, a P/E ratio of 12.93 and a beta of 1.45.

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

Jackson Financial Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, December 4th. Jackson Financial’s dividend payout ratio is presently 44.26%.

Jackson Financial declared that its board has authorized a share buyback plan on Thursday, September 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 14.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.