Bridgeway Capital Management LLC Cuts Stock Position in Jackson Financial Inc. $JXN

Key Points

• Bridgeway Capital Management LLC reduced its stake in Jackson Financial Inc. by 32.4% during the first quarter, owning 56,192 shares after selling 26,900 shares.
• Shares of Jackson Financial currently trade at $98.08, with a recent 52-week high of $115.22 and low of $64.70.
• Jackson Financial recently declared a quarterly dividend of $0.80, representing an annualized yield of 3.3%.

Bridgeway Capital Management LLC lessened its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 32.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,192 shares of the company's stock after selling 26,900 shares during the period. Bridgeway Capital Management LLC owned 0.08% of Jackson Financial worth $4,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of 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 acquiring an additional 694,518 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Jackson Financial during the first quarter worth about $43,830,000. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 174,830 shares during the last quarter. Millennium Management LLC grew its stake in shares of 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 acquiring an additional 161,740 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of 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 acquiring an additional 149,799 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently 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 note 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 research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Jackson Financial presently has an average rating of "Hold" and an average price target of $101.20.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $98.08 on Friday. The business's 50 day moving average price is $91.21 and its 200 day moving average price is $85.21. The firm has a market cap of $6.83 billion, a P/E ratio of -1,634.41 and a beta of 1.46. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $115.22. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.77 billion. During the same period in the previous year, the company posted $5.32 earnings per share. Jackson Financial's revenue for the quarter was down 3.3% on a year-over-year basis. On average, sell-side analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. Jackson Financial's payout ratio is presently -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.

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