Jackson Financial Inc. $JXN Stake Cut by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its stake in Jackson Financial Inc. by 7.8%, holding 198,900 shares worth approximately $16.66 million after selling 16,818 shares during the first quarter.
• Jackson Financial recently announced a quarterly dividend of $0.80 per share, with a payout ratio of -5,333.33%, to be paid on September 25th.
• Analysts have adjusted price targets for Jackson Financial, with Barclays increasing theirs from $108.00 to $114.00, indicating a positive outlook for the stock.

Candriam S.C.A. reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,900 shares of the company's stock after selling 16,818 shares during the quarter. Candriam S.C.A. owned about 0.27% of Jackson Financial worth $16,664,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Jackson Financial by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 2,108 shares of the company's stock worth $177,000 after buying an additional 330 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Jackson Financial by 13.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company's stock worth $388,000 after buying an additional 547 shares during the last quarter. Principal Financial Group Inc. grew its stake in Jackson Financial by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 429,789 shares of the company's stock worth $36,008,000 after buying an additional 11,805 shares during the last quarter. SG Americas Securities LLC grew its stake in Jackson Financial by 670.0% during the 1st quarter. SG Americas Securities LLC now owns 15,393 shares of the company's stock worth $1,290,000 after buying an additional 13,394 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Jackson Financial by 48.9% during the 4th quarter. Deutsche Bank AG now owns 65,617 shares of the company's stock worth $5,714,000 after buying an additional 21,556 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on JXN. Morgan Stanley raised their price target on Jackson Financial from $92.00 to $97.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Barclays raised their price target on Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Jefferies Financial Group raised 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. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $101.20.

Jackson Financial Trading Down 0.4%

Shares of NYSE JXN traded down $0.4380 during mid-day trading on Monday, hitting $98.0320. 288,821 shares of the company traded hands, compared to its average volume of 755,587. The business has a 50 day moving average of $88.99 and a two-hundred day moving average of $84.83. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of -1,632.06 and a beta of 1.46. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year 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 issued its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, topping analysts' consensus estimates of $4.61 by $0.26. The firm had revenue of ($471.00) million for the quarter, compared to analysts' expectations of $1.77 billion. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.Jackson Financial's revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $5.32 EPS. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be paid a $0.80 dividend. 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 is currently -5,333.33%.

Jackson Financial 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.