American Century Companies Inc. Cuts Stock Position in Jackson Financial Inc. $JXN

Key Points

• American Century Companies Inc. reduced its holdings in Jackson Financial Inc. by 1.8%, owning 1,529,982 shares worth approximately $128.18 million as of the latest reporting period.
• Several hedge funds, including Quarry LP and Versant Capital Management Inc., recently made new investments in Jackson Financial, contributing to institutional and hedge funds owning 89.96% of the stock.
• Analysts have set varying price targets for Jackson Financial, with the average consensus target reaching $100.00, and current share price fluctuating around $94.52.

American Century Companies Inc. reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 1.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,529,982 shares of the company's stock after selling 27,670 shares during the period. American Century Companies Inc. owned 2.11% of Jackson Financial worth $128,182,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in JXN. Quarry LP bought a new position in Jackson Financial in the 4th quarter worth about $28,000. NBC Securities Inc. purchased a new position in Jackson Financial in the first quarter worth about $37,000. Versant Capital Management Inc lifted its stake in shares of Jackson Financial by 161.9% in the first quarter. Versant Capital Management Inc now owns 550 shares of the company's stock worth $46,000 after buying an additional 340 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Jackson Financial during the 1st quarter valued at $67,000. Finally, HWG Holdings LP bought a new stake in shares of Jackson Financial in the 1st quarter worth $72,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Price Performance

Shares of JXN stock traded up $0.5560 on Wednesday, hitting $96.2960. 454,522 shares of the stock traded hands, compared to its average volume of 762,112. 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 52 week low of $64.70 and a 52 week high of $115.22. The firm has a 50 day simple moving average of $88.14 and a two-hundred day simple moving average of $84.77. The firm 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 announced its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, beating the consensus estimate 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 previous year, the business earned $5.32 earnings per share. The business's revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on JXN. Morgan Stanley lifted their price target on shares of Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Monday. Jefferies Financial Group increased their price target on Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a report on Monday, August 11th. Barclays lifted their price objective 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 increased their target price on Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $101.20.

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.