46,772 Shares of Jackson Financial Inc. $JXN Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management purchased 46,772 Jackson Financial shares worth approximately $6.05 million, giving it a 0.07% stake. Institutional investors and hedge funds collectively own 89.96% of the company.
• Jackson Financial reported quarterly earnings of $7.30 per share, surpassing estimates of $5.72, while revenue reached $2 billion versus the $1.91 billion consensus forecast.
• The stock opened at $130.64, near analysts’ average price target of $134.20. Analysts maintain a consensus “Hold” rating, and the company pays a quarterly dividend of $0.90 per share, yielding about 2.8%.

Assenagon Asset Management S.A. bought a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 46,772 shares of the company's stock, valued at approximately $6,049,000. Assenagon Asset Management S.A. owned 0.07% of Jackson Financial as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Triumph Capital Management grew its position in Jackson Financial by 3.6% during the 3rd quarter. Triumph Capital Management now owns 2,846 shares of the company's stock worth $368,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Jackson Financial by 22.7% in the second quarter. Allworth Financial LP now owns 573 shares of the company's stock valued at $59,000 after buying an additional 106 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Jackson Financial by 5.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,405 shares of the company's stock valued at $254,000 after buying an additional 126 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of Jackson Financial by 46.4% in the first quarter. Root Financial Partners LLC now owns 401 shares of the company's stock valued at $42,000 after buying an additional 127 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Jackson Financial by 7.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,906 shares of the company's stock worth $201,000 after buying an additional 132 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $130.64 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26. Jackson Financial Inc. has a one year low of $89.67 and a one year high of $140.90. The firm has a market capitalization of $8.85 billion, a P/E ratio of 4.95 and a beta of 1.31. The company's fifty day moving average is $133.15 and its two-hundred day moving average is $119.57.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, topping the consensus estimate of $5.72 by $1.58. Jackson Financial had a net margin of 1.59% and a return on equity of 18.93%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Tuesday, September 15th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, September 15th. Jackson Financial's payout ratio is currently 507.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Jefferies Financial Group raised Jackson Financial from a "hold" rating to a "buy" rating and boosted their target price for the company from $120.00 to $140.00 in a report on Friday, July 10th. Weiss Ratings upgraded Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Evercore set a $135.00 price target on Jackson Financial in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Jackson Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Barclays set a $151.00 price objective on shares of Jackson Financial in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Jackson Financial presently has a consensus rating of "Hold" and an average price target of $134.20.

Insider Buying and Selling at Jackson Financial

In other news, CEO Christopher Raub sold 5,000 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the transaction, the chief executive officer directly owned 42,160 shares of the company's stock, valued at $5,509,890.40. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Carrie Chelko sold 7,500 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the transaction, the executive vice president directly owned 80,914 shares of the company's stock, valued at approximately $10,861,895.36. This trade represents a 8.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.40% of the company's stock.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S.-based financial services company focused on helping individuals and institutions pursue retirement security. Through its operating subsidiaries, the company develops and distributes annuity products designed to provide income, investment growth opportunities and protection against certain retirement-related risks.

Jackson's offerings include variable annuities, fixed annuities and fixed-indexed annuities, along with related retirement planning solutions.

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