Allspring Global Investments Holdings LLC Sells 5,384 Shares of Jackson Financial Inc. $JXN

Allspring Global Investments Holdings LLC lessened its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 99,718 shares of the company's stock after selling 5,384 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of Jackson Financial worth $8,901,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Raiffeisen Bank International AG lifted its stake in shares of Jackson Financial by 11.7% in the 1st quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company's stock worth $106,000 after purchasing an additional 133 shares during the period. Triumph Capital Management lifted its stake in shares of Jackson Financial by 3.6% in the 2nd quarter. Triumph Capital Management now owns 3,990 shares of the company's stock worth $354,000 after purchasing an additional 138 shares during the period. CWM LLC lifted its stake in shares of Jackson Financial by 7.9% in the 1st quarter. CWM LLC now owns 1,975 shares of the company's stock worth $165,000 after purchasing an additional 145 shares during the period. Tcfg Wealth Management LLC lifted its stake in shares of Jackson Financial by 3.5% in the 2nd quarter. Tcfg Wealth Management LLC now owns 4,356 shares of the company's stock worth $387,000 after purchasing an additional 149 shares during the period. Finally, Xponance Inc. lifted its stake in shares of Jackson Financial by 2.5% in the 1st quarter. Xponance Inc. now owns 6,738 shares of the company's stock worth $565,000 after purchasing an additional 166 shares during the period. Institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the stock an "underperform" rating in a research note on Thursday, October 9th. Zacks Research upgraded shares of Jackson Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Morgan Stanley raised their target price on shares of Jackson Financial from $97.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 7th. Barclays raised their target price on shares of Jackson Financial from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Jackson Financial has a consensus rating of "Hold" and a consensus price target of $109.20.

Jackson Financial Trading Up 1.7%

Jackson Financial stock opened at $96.16 on Monday. The stock has a market cap of $6.70 billion, a P/E ratio of -1,602.37 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22. The firm's 50 day moving average price is $98.14 and its 200-day moving average price is $88.22.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The firm had revenue of ($1,162.00) million for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. On average, equities analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were given a dividend of $0.80 per share. The ex-dividend date was Monday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. Jackson Financial's dividend payout ratio (DPR) is presently -5,333.33%.

Jackson Financial announced that its board has initiated a stock repurchase plan on Thursday, September 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 14.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Jackson Financial Company Profile

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.

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