Ancora Advisors LLC Makes New $4.19 Million Investment in Jackson Financial Inc. $JXN

Key Points

• Ancora Advisors initiated a $4.19 million position in Jackson Financial, while institutional investors and hedge funds collectively owned 89.96% of the company. Other major investors, including Donald Smith & Co., Norges Bank and Bank of New York Mellon, also established or expanded positions.
• Analyst sentiment is generally positive: Jackson Financial has a “Moderate Buy” consensus rating and a $133.80 average price target, with Barclays raising its target to $149. The company also beat quarterly expectations with $7.30 in EPS versus the $5.72 consensus and $2 billion in revenue.
• Jackson Financial announced a quarterly dividend of $0.90 per share, or $3.60 annualized, representing a 2.7% yield. However, its dividend payout ratio is notably high at 507.04%, while company insiders own just 1.40% of shares and recently sold stock.

Ancora Advisors LLC bought a new stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 40,923 shares of the company's stock, valued at approximately $4,190,000. Ancora Advisors LLC owned about 0.06% of Jackson Financial at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Donald Smith & CO. Inc. acquired a new stake in shares of Jackson Financial in the 2nd quarter valued at about $183,186,000. Norges Bank bought a new stake in shares of Jackson Financial in the 4th quarter valued at approximately $129,878,000. Bank of New York Mellon Corp acquired a new stake in shares of Jackson Financial during the 2nd quarter valued at approximately $66,639,000. Hsbc Holdings PLC raised its position in shares of Jackson Financial by 16.5% during the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company's stock valued at $166,476,000 after acquiring an additional 220,095 shares in the last quarter. Finally, Amundi lifted its stake in Jackson Financial by 1,446.4% during the third quarter. Amundi now owns 193,825 shares of the company's stock worth $19,696,000 after purchasing an additional 181,291 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Insider Activity

In other Jackson Financial news, CEO Christopher Raub sold 5,000 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total transaction of $653,450.00. Following the transaction, the chief executive officer owned 42,160 shares of the company's stock, valued at approximately $5,509,890.40. This trade represents a 10.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carrie Chelko sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the sale, the executive vice president owned 80,914 shares in the company, valued at $10,861,895.36. This trade represents a 8.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JXN shares. Barclays lifted their price target on shares of Jackson Financial from $139.00 to $149.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Wall Street Zen raised shares of Jackson Financial from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings upgraded Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods lifted their target price on Jackson Financial from $130.00 to $140.00 and gave the company a "market perform" rating in a research note on Wednesday, August 5th. Finally, Evercore set a $135.00 target price on Jackson Financial in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Jackson Financial presently has an average rating of "Moderate Buy" and a consensus price target of $133.80.

Jackson Financial Stock Performance

JXN opened at $133.30 on Thursday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53. The business's 50 day moving average is $120.72 and its 200-day moving average is $113.08. The stock has a market cap of $9.03 billion, a PE ratio of 187.75 and a beta of 1.30. Jackson Financial Inc. has a twelve month low of $89.67 and a twelve month high of $137.99.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $7.30 EPS for the quarter, beating the consensus estimate of $5.72 by $1.58. The firm had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Jackson Financial's dividend payout ratio is currently 507.04%.

Jackson Financial Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company's core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.

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