Ancora Advisors LLC Buys 20,910 Shares of Jackson Financial Inc. $JXN

Key Points

• Ancora Advisors LLC increased its stake in Jackson Financial Inc. by 29.5% during the first quarter, owning approximately 0.13% of the company's stock valued at $7.68 million.
• Analysts have raised their price targets for Jackson Financial, with Barclays setting the highest at $114.00, while the consensus rating is currently "Hold" with an average target price of $101.20.
• Jackson Financial recently announced a quarterly dividend of $0.80 per share, reflecting a 3.3% dividend yield, with the payout to begin on September 25th.

Ancora Advisors LLC boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 29.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,740 shares of the company's stock after acquiring an additional 20,910 shares during the period. Ancora Advisors LLC owned approximately 0.13% of Jackson Financial worth $7,686,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Jackson Financial by 385.3% during the first quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company's stock worth $73,288,000 after buying an additional 694,518 shares during the last quarter. Nuveen LLC acquired a new position in Jackson Financial during the first quarter worth approximately $43,830,000. GAMMA Investing LLC increased its position in Jackson Financial by 9,833.0% during the first quarter. GAMMA Investing LLC now owns 176,608 shares of the company's stock worth $14,796,000 after buying an additional 174,830 shares during the last quarter. Millennium Management LLC increased its position in Jackson Financial by 3,818.2% during the fourth quarter. Millennium Management LLC now owns 165,976 shares of the company's stock worth $14,453,000 after buying an additional 161,740 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Jackson Financial by 144.4% during the first quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company's stock worth $21,239,000 after buying an additional 149,799 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Jackson Financial Price Performance

Shares of Jackson Financial stock traded up $0.42 during trading on Monday, reaching $95.84. 1,021,413 shares of the company's stock were exchanged, compared to its average volume of 740,975. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22. The company has a market cap of $6.67 billion, a P/E ratio of -1,596.98 and a beta of 1.46. The firm's 50-day moving average price is $91.32 and its 200 day moving average price is $85.14.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 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 company had revenue of ($471.00) million during the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the previous year, the firm earned $5.32 EPS. Jackson Financial's revenue was down 3.3% on a year-over-year basis. As a group, research 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 announced 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 annualized dividend and a yield of 3.3%. 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.