Eaton Financial Holdings Company LLC Buys New Position in Jackson Financial Inc. $JXN

Key Points

• Eaton Financial Holdings Company LLC has acquired a new stake in Jackson Financial Inc. (NYSE:JXN), purchasing 16,158 shares valued at approximately $1.4 million during the second quarter of 2023.
• Jackson Financial recently announced a $1.00 billion stock repurchase program, indicating the board's belief that the company's shares are currently undervalued.
• The company declared a quarterly dividend of $0.80 per share, signifying a 3.1% dividend yield, with the ex-dividend date set for September 15th.

Eaton Financial Holdings Company LLC bought a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,158 shares of the company's stock, valued at approximately $1,435,000.

Other institutional investors have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its stake in Jackson Financial by 7.0% in the first quarter. Donald Smith & CO. Inc. now owns 1,666,047 shares of the company's stock valued at $139,581,000 after buying an additional 108,758 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Jackson Financial by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,084,560 shares of the company's stock valued at $90,864,000 after buying an additional 5,320 shares during the period. Assenagon Asset Management S.A. lifted its stake in Jackson Financial by 385.3% in the first quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company's stock valued at $73,288,000 after buying an additional 694,518 shares during the period. Millennium Management LLC lifted its stake in Jackson Financial by 296.7% in the first quarter. Millennium Management LLC now owns 658,468 shares of the company's stock valued at $55,166,000 after buying an additional 492,492 shares during the period. Finally, LSV Asset Management lifted its stake in Jackson Financial by 11.1% in the first quarter. LSV Asset Management now owns 651,798 shares of the company's stock valued at $54,608,000 after buying an additional 65,239 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Up 1.7%

Shares of NYSE:JXN opened at $102.55 on Tuesday. The company has a market capitalization of $7.14 billion, a PE ratio of -1,708.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. The business has a fifty day moving average price of $93.44 and a two-hundred day moving average price of $86.05. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last announced 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. The firm had revenue of ($471.00) million during the quarter, compared to the consensus estimate of $1.77 billion. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.32 EPS. Analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.1%. Jackson Financial's dividend payout ratio is presently -5,333.33%.

Jackson Financial declared that its board has authorized a stock repurchase program on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 14.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of research reports. Jefferies Financial Group upped their target price on Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Morgan Stanley upped their target price on Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Barclays upped their target price on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Zacks Research lowered Jackson Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $101.20.

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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