Acadian Asset Management LLC Sells 65,688 Shares of Jackson Financial Inc. $JXN

Key Points

• Acadian Asset Management LLC reduced its stake in Jackson Financial by 4.7%, owning approximately 1.84% of the company, which is valued at around $112.18 million.
• Various institutional investors, including Deutsche Bank AG and Janus Henderson Group PLC, significantly increased their stakes in Jackson Financial during the fourth quarter of the previous year.
• Analysts have adjusted their price targets for Jackson Financial, with an average target of $101.20 and mixed ratings, including one Buy, three Holds, and one Sell.

Acadian Asset Management LLC lessened its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,339,265 shares of the company's stock after selling 65,688 shares during the quarter. Acadian Asset Management LLC owned about 1.84% of Jackson Financial worth $112,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of Jackson Financial in the 1st quarter valued at about $37,000. Brooklyn Investment Group lifted its holdings 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 buying an additional 454 shares during the period. Versant Capital Management Inc boosted its stake in Jackson Financial by 161.9% in the first quarter. Versant Capital Management Inc now owns 550 shares of the company's stock valued at $46,000 after acquiring an additional 340 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Jackson Financial during the 1st quarter worth $46,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Jackson Financial during the 1st quarter valued at $67,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of JXN stock remained flat at $96.98 during trading hours on Monday. The company's stock had a trading volume of 275,431 shares, compared to its average volume of 734,548. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22. The company's fifty day moving average is $92.16 and its 200 day moving average is $85.56. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6.75 billion, a P/E ratio of -1,616.23 and a beta of 1.46.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.26. The business had revenue of ($471.00) million during the quarter, compared to the consensus estimate of $1.77 billion. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.Jackson Financial's revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $5.32 EPS. Sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio is currently -5,333.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on JXN shares. Barclays lifted their price objective on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Morgan Stanley upped their price target on Jackson Financial from $92.00 to $97.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Jackson Financial currently has a consensus rating of "Hold" and an average price target of $101.20.

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.