EP Wealth Advisors LLC Takes Position in Jackson Financial Inc. $JXN

Key Points

• EP Wealth Advisors LLC has acquired a new stake in Jackson Financial Inc., purchasing 3,072 shares valued at approximately $257,000.
• Analysts have recently adjusted price targets for Jackson Financial, with Morgan Stanley raising it to $97.00, while Barclays increased theirs to $114.00.
• Jackson Financial announced a quarterly $0.80 dividend to be paid out on September 25th, representing an annualized yield of 3.3%.

EP Wealth Advisors LLC acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,072 shares of the company's stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds also recently modified their holdings of JXN. Assenagon Asset Management S.A. increased its stake in shares of Jackson Financial by 385.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company's stock valued at $73,288,000 after acquiring an additional 694,518 shares during the last quarter. Nuveen LLC acquired a new stake in Jackson Financial during the 1st quarter worth approximately $43,830,000. GAMMA Investing LLC increased its position in Jackson Financial by 9,833.0% during the 1st quarter. GAMMA Investing LLC now owns 176,608 shares of the company's stock worth $14,796,000 after purchasing an additional 174,830 shares in the last quarter. Millennium Management LLC increased its position in Jackson Financial by 3,818.2% during the 4th quarter. Millennium Management LLC now owns 165,976 shares of the company's stock worth $14,453,000 after purchasing an additional 161,740 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Jackson Financial by 144.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company's stock worth $21,239,000 after purchasing an additional 149,799 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JXN. Morgan Stanley increased their target price 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. Barclays increased their target price on shares of Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Jefferies Financial Group increased their target price on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Jackson Financial presently has an average rating of "Hold" and a consensus target price of $101.20.

Jackson Financial Stock Down 1.0%

NYSE JXN traded down $0.99 on Monday, reaching $96.79. The company had a trading volume of 633,102 shares, compared to its average volume of 468,144. The firm has a market capitalization of $6.74 billion, a PE ratio of -1,612.86 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 firm has a 50-day moving average of $92.33 and a 200-day moving average of $85.59. 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 released 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 during 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 quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.32 EPS. On average, equities research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently announced 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. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio is -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.