Forum Financial Management LP Cuts Stock Position in Jackson Financial Inc. $JXN

Forum Financial Management LP lessened its holdings in Jackson Financial Inc. (NYSE:JXN) by 18.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,816 shares of the company’s stock after selling 641 shares during the period. Forum Financial Management LP’s holdings in Jackson Financial were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Denali Advisors LLC raised its stake in shares of Jackson Financial by 0.4% in the 2nd quarter. Denali Advisors LLC now owns 69,446 shares of the company’s stock valued at $6,166,000 after acquiring an additional 300 shares during the period. Forvis Mazars Wealth Advisors LLC acquired a new stake in Jackson Financial during the 2nd quarter valued at $207,000. International Assets Investment Management LLC grew its holdings in Jackson Financial by 10.7% during the 2nd quarter. International Assets Investment Management LLC now owns 12,984 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,257 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Jackson Financial during the 2nd quarter valued at $3,165,000. Finally, Easterly Investment Partners LLC grew its holdings in Jackson Financial by 19.7% during the 2nd quarter. Easterly Investment Partners LLC now owns 239,982 shares of the company’s stock valued at $21,308,000 after purchasing an additional 39,503 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Jackson Financial in a report on Wednesday, October 8th. Barclays raised their price target on shares of Jackson Financial from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, Keefe, Bruyette & Woods raised 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and a consensus target price of $109.20.

Jackson Financial Trading Up 0.4%

NYSE JXN opened at $99.75 on Tuesday. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22. The company has a 50-day simple moving average of $98.58 and a 200-day simple moving average of $89.28. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $6.95 billion, a PE ratio of -1,662.19 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The business had revenue of ($1,162.00) million during the quarter. On average, equities analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were given a $0.80 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.2%. Jackson Financial’s dividend payout ratio (DPR) is currently -5,333.33%.

Jackson Financial announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership 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.