Cubist Systematic Strategies LLC Increases Stock Holdings in Jackson Financial Inc. $JXN

Key Points

• Cubist Systematic Strategies LLC increased its stake in Jackson Financial by 144.4%, acquiring an additional 149,799 shares, bringing their total ownership to approximately 0.35% valued at $21.24 million.
• Analysts have raised their price targets for Jackson Financial, with Morgan Stanley and Barclays targeting $97.00 and $114.00 respectively, and the stock currently holds a consensus rating of "Hold" with a target price of $101.20.
• Jackson Financial announced a quarterly dividend of $0.80, which translates to an annualized yield of 3.2%, and will be paid on September 25th to shareholders of record as of September 15th.

Cubist Systematic Strategies LLC grew its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 144.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,504 shares of the company's stock after purchasing an additional 149,799 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.35% of Jackson Financial worth $21,239,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Jackson Financial by 18.6% during the first quarter. GAMMA Investing LLC now owns 2,108 shares of the company's stock worth $177,000 after acquiring an additional 330 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Jackson Financial by 13.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company's stock valued at $388,000 after acquiring an additional 547 shares during the period. Principal Financial Group Inc. grew its stake in Jackson Financial by 2.8% in the first quarter. Principal Financial Group Inc. now owns 429,789 shares of the company's stock worth $36,008,000 after purchasing an additional 11,805 shares during the period. Richard Bernstein Advisors LLC bought a new stake in Jackson Financial during the 1st quarter valued at about $3,069,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Jackson Financial by 670.0% during the 1st quarter. SG Americas Securities LLC now owns 15,393 shares of the company's stock valued at $1,290,000 after buying an additional 13,394 shares during the period. Institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Up 1.4%

Shares of JXN stock traded up $1.38 on Thursday, reaching $98.08. 345,530 shares of the stock were exchanged, compared to its average volume of 743,794. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -1,634.41 and a beta of 1.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46. The business's 50 day moving average price is $91.02 and its 200 day moving average price is $85.20.

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, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the company posted $5.32 earnings per share. The business's quarterly revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be given a $0.80 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.3%. Jackson Financial's dividend payout ratio is -5,333.33%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. Jefferies Financial Group increased their price objective on shares of Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a research note on Monday, August 11th. 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. Finally, 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 research report on Monday, August 18th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Jackson Financial has an average rating of "Hold" and a consensus price target of $101.20.

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.