Envestnet Asset Management Inc. Buys 4,511 Shares of Jackson Financial Inc. (NYSE:JXN)

Key Points

• Envestnet Asset Management Inc. increased its stake in Jackson Financial by 31% in Q1, owning 19,049 shares worth approximately $1.6 million at quarter-end.
• Jackson Financial reported $5.10 earnings per share for the last quarter, exceeding analysts' expectations of $4.93, with a revenue of $3.75 billion.
• The company declared a quarterly dividend of $0.80 per share, representing an annualized yield of 3.72%, despite a high dividend payout ratio of 310.68%.

Envestnet Asset Management Inc. lifted its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 31.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,049 shares of the company's stock after buying an additional 4,511 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Jackson Financial were worth $1,596,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC grew its holdings in shares of Jackson Financial by 1.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,096 shares of the company's stock worth $1,181,000 after purchasing an additional 166 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Jackson Financial by 0.9% during the first quarter. Exchange Traded Concepts LLC now owns 22,867 shares of the company's stock worth $1,916,000 after purchasing an additional 206 shares during the period. MML Investors Services LLC grew its stake in Jackson Financial by 1.7% during the fourth quarter. MML Investors Services LLC now owns 13,530 shares of the company's stock worth $1,178,000 after buying an additional 225 shares in the last quarter. RFG Advisory LLC increased its holdings in Jackson Financial by 1.4% in the 1st quarter. RFG Advisory LLC now owns 16,924 shares of the company's stock valued at $1,418,000 after buying an additional 226 shares during the period. Finally, Regal Investment Advisors LLC raised its position in shares of Jackson Financial by 2.9% in the 4th quarter. Regal Investment Advisors LLC now owns 9,889 shares of the company's stock valued at $861,000 after buying an additional 275 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Jackson Financial Price Performance

Shares of Jackson Financial stock traded down $3.50 during midday trading on Friday, hitting $84.06. 660,097 shares of the company traded hands, compared to its average volume of 482,200. The firm's fifty day moving average price is $85.83 and its 200-day moving average price is $85.03. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 4.45 and a beta of 1.46. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.29 and a current ratio of 0.29.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.17. Jackson Financial had a return on equity of 15.46% and a net margin of 1.73%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business posted $4.23 EPS. Jackson Financial's revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, June 12th. Jackson Financial's dividend payout ratio (DPR) is 310.68%.

Analysts Set New Price Targets

Several research firms recently issued reports on JXN. Morgan Stanley set a $91.00 price target on shares of Jackson Financial and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $100.00 to $102.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Barclays lifted their price target on Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research note on Monday, July 7th.

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.