Aigen Investment Management LP Increases Position in Jackson Financial Inc. (NYSE:JXN)

Key Points

• Aigen Investment Management LP has significantly increased its stake in Jackson Financial Inc. by 75.5% during the first quarter, totaling 12,919 shares valued at around $1,082,000.
• Other institutional investors also raised their holdings, with notable increases from First Trust Advisors LP by 13.4% and Assenagon Asset Management S.A. by 385.3%.
• Jackson Financial recently declared a quarterly dividend of $0.80 per share, with an annual yield of 3.5%, despite a significant dividend payout ratio of -5,333.33%.

Aigen Investment Management LP raised its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 75.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,919 shares of the company's stock after buying an additional 5,558 shares during the period. Aigen Investment Management LP's holdings in Jackson Financial were worth $1,082,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Trust Advisors LP boosted its holdings in shares of Jackson Financial by 13.4% in the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company's stock valued at $360,036,000 after purchasing an additional 487,803 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Jackson Financial by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,084,560 shares of the company's stock valued at $90,864,000 after purchasing an additional 5,320 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Jackson Financial by 0.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,082,974 shares of the company's stock valued at $94,305,000 after purchasing an additional 4,987 shares during the period. Northern Trust Corp boosted its holdings in shares of Jackson Financial by 12.1% in the fourth quarter. Northern Trust Corp now owns 953,082 shares of the company's stock valued at $82,994,000 after purchasing an additional 102,953 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Jackson Financial by 385.3% in the first quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company's stock valued at $73,288,000 after purchasing an additional 694,518 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analyst Upgrades and Downgrades

JXN has been the subject of a number of research reports. Morgan Stanley set a $91.00 price target on Jackson Financial and gave the company an "equal weight" rating in a report on Monday, May 19th. Barclays upped their target price on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods upped their target price on Jackson Financial from $100.00 to $102.00 and gave the stock a "market perform" rating in a report on Wednesday, July 9th.

Jackson Financial Stock Performance

Shares of JXN stock opened at $90.39 on Monday. The business's fifty day simple moving average is $86.52 and its 200-day simple moving average is $84.70. The company has a market cap of $6.46 billion, a PE ratio of -1,506.25 and a beta of 1.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $115.22.

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

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, September 15th. Jackson Financial's dividend payout ratio (DPR) is currently -5,333.33%.

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.

Want to see what other hedge funds are holding JXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jackson Financial Inc. (NYSE:JXN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.