Algert Global LLC Grows Stock Holdings in Jackson Financial Inc. $JXN

Key Points

• Algert Global LLC has increased its stake in Jackson Financial Inc. by 71.3% during Q1, bringing its total holdings to 113,047 shares valued at approximately $9.47 million.
• Jackson Financial recently declared a quarterly dividend of $0.80 per share, representing a 3.4% dividend yield, with the ex-dividend date set for September 15th.
• Several brokerages have raised their price targets for Jackson Financial, with the average target now at $100.00, while one analyst has rated it a sell and three have assigned hold ratings.

Algert Global LLC increased its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 71.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,047 shares of the company's stock after acquiring an additional 47,070 shares during the period. Algert Global LLC owned approximately 0.16% of Jackson Financial worth $9,471,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Corient IA LLC bought a new stake in Jackson Financial during the first quarter worth about $209,000. Adams Wealth Management bought a new stake in Jackson Financial during the first quarter worth about $234,000. Gator Capital Management LLC boosted its stake in Jackson Financial by 1.6% during the first quarter. Gator Capital Management LLC now owns 113,650 shares of the company's stock worth $9,522,000 after acquiring an additional 1,800 shares in the last quarter. Ethic Inc. boosted its stake in Jackson Financial by 3.9% during the first quarter. Ethic Inc. now owns 5,433 shares of the company's stock worth $459,000 after acquiring an additional 204 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its stake in Jackson Financial by 75.0% during the first quarter. Fox Run Management L.L.C. now owns 19,452 shares of the company's stock worth $1,630,000 after acquiring an additional 8,338 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Performance

Shares of JXN traded up $0.5560 during mid-day trading on Wednesday, hitting $96.2960. 454,522 shares of the company traded hands, compared to its average volume of 762,112. 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 stock has a 50-day moving average price of $88.14 and a two-hundred day moving average price of $84.77. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of -1,604.67 and a beta of 1.46.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.26. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The firm had revenue of ($471.00) million during the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the previous year, the company earned $5.32 earnings per share. The firm's quarterly revenue was down 3.3% on a year-over-year basis. Equities analysts anticipate 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. Stockholders of record on Monday, September 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, September 15th. Jackson Financial's payout ratio is presently -5,333.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on JXN. Keefe, Bruyette & Woods boosted their price objective on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Morgan Stanley lifted their target price on shares of Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a report on Monday. Barclays lifted their target price on shares of Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Jefferies Financial Group lifted their target price on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a report 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.