Jackson Financial Inc. $JXN Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Jackson Financial by 26.3%, now holding 10,615 shares valued at $943,000.
• Several analysts have raised their price targets for Jackson Financial, with a consensus average price target of $109.20 and ratings ranging from "strong buy" to "hold."
• Jackson Financial has authorized a $1 billion share repurchase plan, indicating that its board believes the shares are undervalued.

Atria Wealth Solutions Inc. decreased its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 26.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,615 shares of the company's stock after selling 3,788 shares during the period. Atria Wealth Solutions Inc.'s holdings in Jackson Financial were worth $943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Donald Smith & CO. Inc. grew its stake in shares of Jackson Financial by 7.0% in the first quarter. Donald Smith & CO. Inc. now owns 1,666,047 shares of the company's stock worth $139,581,000 after acquiring an additional 108,758 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $90,864,000 after acquiring an additional 5,320 shares in the last quarter. Millennium Management LLC grew its stake in shares of Jackson Financial by 296.7% in the first quarter. Millennium Management LLC now owns 658,468 shares of the company's stock worth $55,166,000 after acquiring an additional 492,492 shares in the last quarter. LSV Asset Management grew its stake in shares of Jackson Financial by 11.1% in the first quarter. LSV Asset Management now owns 651,798 shares of the company's stock worth $54,608,000 after acquiring an additional 65,239 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Jackson Financial in the first quarter worth $43,830,000. Institutional investors and hedge funds own 89.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Zacks Research upgraded shares of Jackson Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Evercore ISI lifted their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the stock an "underperform" rating in a research report on Thursday, October 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research report on Thursday, October 9th. Morgan Stanley lifted their price objective on shares of Jackson Financial from $97.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $109.20.

Jackson Financial Price Performance

Shares of JXN opened at $96.16 on Friday. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22. The stock has a market cap of $6.70 billion, a PE ratio of -1,602.37 and a beta of 1.45. 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 firm has a fifty day moving average price of $98.14 and a 200 day moving average price of $88.13.

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

Jackson Financial announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 14.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. Jackson Financial's 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.

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