Caisse DE Depot ET Placement DU Quebec Sells 180,539 Shares of Jackson Financial Inc. $JXN

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in Jackson Financial Inc. by 31.8%, selling 180,539 shares and retaining 386,377 shares valued at approximately $32.37 million.
• Several hedge funds have recently adjusted their positions in Jackson Financial, with notable increases in holdings by Brooklyn Investment Group and Versant Capital Management, indicating growing institutional interest.
• Jackson Financial has declared a quarterly dividend of $0.80 per share, with the ex-dividend date set for September 15th, representing a 3.2% annual yield.

Caisse DE Depot ET Placement DU Quebec lessened its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 31.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 386,377 shares of the company's stock after selling 180,539 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.53% of Jackson Financial worth $32,371,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quarry LP bought a new position in Jackson Financial during the fourth quarter worth $28,000. NBC Securities Inc. acquired a new stake in Jackson Financial in the first quarter worth $37,000. Brooklyn Investment Group grew its holdings in Jackson Financial by 987.0% in the first quarter. Brooklyn Investment Group now owns 500 shares of the company's stock worth $42,000 after purchasing an additional 454 shares during the period. Versant Capital Management Inc grew its holdings in 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 purchasing an additional 340 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in Jackson Financial in the first quarter worth $67,000. Institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on JXN. Morgan Stanley raised their price target on shares of Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Jefferies Financial Group raised their price target on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a report on Monday, August 11th. Finally, Barclays lifted their price objective on shares of Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a report on Monday, July 7th. One investment 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 target price of $101.20.

Jackson Financial Stock Up 0.8%

Shares of NYSE JXN opened at $98.52 on Wednesday. The stock has a market capitalization of $6.86 billion, a P/E ratio of -1,641.79 and a beta of 1.46. The company has a 50-day moving average price of $89.56 and a 200-day moving average price of $84.96. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22. 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 (NYSE:JXN - Get Free Report) last issued its quarterly earnings data 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 net margin of 1.73% and a return on equity of 14.73%. The firm had revenue of ($471.00) million during the quarter, compared to analysts' expectations of $1.77 billion. During the same period last year, the company earned $5.32 earnings per share. The business's revenue was down 3.3% on a year-over-year basis. On average, equities research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.2%. Jackson Financial's payout ratio is -5,333.33%.

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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