Summit Global Investments Has $1.30 Million Position in Jackson Financial Inc. $JXN

Summit Global Investments boosted its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 7.6% during the second quarter, Holdings Channel reports. The fund owned 14,644 shares of the company’s stock after acquiring an additional 1,039 shares during the period. Summit Global Investments’ holdings in Jackson Financial were worth $1,300,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Jackson Financial by 111.6% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Jackson Financial by 987.0% during the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock worth $42,000 after buying an additional 454 shares in the last quarter. Sound Income Strategies LLC boosted its position in 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 during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Jackson Financial in the 1st quarter valued at $46,000. Finally, Hantz Financial Services Inc. raised its position in shares of Jackson Financial by 62.7% during the second quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock worth $50,000 after acquiring an additional 215 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays boosted their price objective on Jackson Financial from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a research report on Wednesday, November 19th. Jefferies Financial Group increased their price objective on shares of Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a report on Monday, August 11th. Morgan Stanley reduced their price objective on shares of Jackson Financial from $106.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Monday, November 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the company 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 given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $108.80.

Jackson Financial Stock Up 0.8%

Shares of JXN stock opened at $94.64 on Tuesday. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $104.61. 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 fifty day moving average of $97.65 and a 200-day moving average of $92.00. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 13.09 and a beta of 1.45.

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

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 outstanding shares. This repurchase authorization allows the company to reacquire up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.80 per share. 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 44.26%.

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.