Goldman Sachs Group Inc. Sells 520,401 Shares of Jackson Financial Inc. $JXN

Key Points

• Goldman Sachs Group Inc. reduced its stake in Jackson Financial Inc. by 21.5%, now holding approximately 2.67% of the company's shares worth $159.5 million.
• Multiple hedge funds have increased their holdings in Jackson Financial, with Raiffeisen Bank International AG raising its stake by 11.7%.
• Jackson Financial has declared a quarterly dividend of $0.80 per share, reflecting an annualized yield of 3.3%, to be paid on September 25th.

Goldman Sachs Group Inc. lessened its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,904,019 shares of the company's stock after selling 520,401 shares during the period. Goldman Sachs Group Inc. owned about 2.67% of Jackson Financial worth $159,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of JXN. NBC Securities Inc. bought a new position in shares of Jackson Financial in the 1st quarter valued at about $37,000. Brooklyn Investment Group lifted its stake in shares of Jackson Financial by 987.0% during the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company's stock worth $42,000 after buying an additional 454 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Jackson Financial by 161.9% during the 1st quarter. Versant Capital Management Inc now owns 550 shares of the company's stock worth $46,000 after buying an additional 340 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Jackson Financial during the 1st quarter worth about $46,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Jackson Financial during the 1st quarter worth about $67,000. Institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

JXN has been the subject of a number of research reports. Keefe, Bruyette & Woods raised 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 note on Monday, August 11th. Barclays raised their target price on shares of Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Morgan Stanley raised 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 note on Monday, August 18th. 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 note on Monday, August 11th. Finally, Zacks Research cut shares of Jackson Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Jackson Financial currently has a consensus rating of "Hold" and a consensus target price of $101.20.

Jackson Financial Price Performance

Shares of NYSE:JXN traded down $3.01 during midday trading on Tuesday, hitting $93.77. The stock had a trading volume of 693,059 shares, compared to its average volume of 473,953. The company's 50-day moving average price is $92.43 and its 200-day moving average price is $85.65. The company has a market capitalization of $6.53 billion, a P/E ratio of -1,562.57 and a beta of 1.46. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, beating the consensus estimate of $4.61 by $0.26. The company had revenue of ($471.00) million during the quarter, compared to analysts' expectations of $1.77 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.32 EPS. As a group, equities research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.4%. Jackson Financial's payout ratio is -5,333.33%.

Jackson Financial 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.