Jackson Financial Inc. $JXN Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management has reduced its stake in Jackson Financial by 20.6%, now holding approximately 587,072 shares valued at $52.1 million.
• Several analysts have adjusted their price targets for Jackson Financial, with a consensus target of $109.20 and varying ratings from "Strong Buy" to "Sell."
• Jackson Financial recently authorized a $1 billion stock repurchase plan, indicating confidence in the value of its own stock.

Allianz Asset Management GmbH cut its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 20.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 587,072 shares of the company's stock after selling 152,151 shares during the period. Allianz Asset Management GmbH owned approximately 0.82% of Jackson Financial worth $52,126,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. RFG Advisory LLC increased its holdings in shares of Jackson Financial by 14.5% in the second quarter. RFG Advisory LLC now owns 19,376 shares of the company's stock valued at $1,720,000 after purchasing an additional 2,452 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Jackson Financial in the second quarter valued at about $209,000. CWM LLC increased its holdings in shares of Jackson Financial by 39.8% in the second quarter. CWM LLC now owns 2,762 shares of the company's stock valued at $245,000 after purchasing an additional 787 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in Jackson Financial during the second quarter worth about $202,000. Finally, Tcfg Wealth Management LLC grew its holdings in Jackson Financial by 3.5% during the second quarter. Tcfg Wealth Management LLC now owns 4,356 shares of the company's stock worth $387,000 after acquiring an additional 149 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on JXN shares. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Jackson Financial in a report on Wednesday, October 8th. Jefferies Financial Group raised their target price on Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Evercore ISI raised their target price on Jackson Financial from $100.00 to $110.00 and gave the stock an "underperform" rating in a report on Thursday, October 9th. Finally, Morgan Stanley increased their price target on Jackson Financial from $97.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Jackson Financial has an average rating of "Hold" and a consensus price target of $109.20.

Jackson Financial Stock Performance

Shares of JXN stock opened at $96.16 on Friday. The company has a market capitalization of $6.70 billion, a P/E ratio of -1,602.37 and a beta of 1.45. The business's 50 day moving average is $98.14 and its two-hundred day moving average is $88.13. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The company had revenue of ($1,162.00) million for the quarter. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%. Analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, September 15th. Jackson Financial's dividend payout ratio (DPR) is -5,333.33%.

Jackson Financial declared that its board has authorized a stock repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 14.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

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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