Swiss National Bank Trims Stock Holdings in Jackson Financial Inc. $JXN

Key Points

• The Swiss National Bank reduced its holdings in Jackson Financial Inc. by 3.3%, now owning approximately 143,100 shares worth $11.99 million.
• Wall Street analysts have varying ratings for Jackson Financial, with Barclays raising their price target to $114.00 and an average target consensus of $100.00.
• The company recently announced a quarterly dividend of $0.80 per share, reflecting an annualized yield of 3.4%.

Swiss National Bank lowered its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,100 shares of the company's stock after selling 4,900 shares during the period. Swiss National Bank owned 0.20% of Jackson Financial worth $11,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of Jackson Financial in the fourth quarter valued at $28,000. NBC Securities Inc. purchased a new stake in Jackson Financial during the first quarter valued at about $37,000. Versant Capital Management Inc grew its position in Jackson Financial by 161.9% during the first quarter. Versant Capital Management Inc now owns 550 shares of the company's stock valued at $46,000 after acquiring an additional 340 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Jackson Financial during the first quarter valued at about $67,000. Finally, HWG Holdings LP purchased a new stake in Jackson Financial during the first quarter valued at about $72,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on JXN. Barclays boosted their price target on Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Jefferies Financial Group boosted their price target on Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, Morgan Stanley boosted their price target on Jackson Financial from $92.00 to $97.00 and gave the company an "equal weight" rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.20.

Jackson Financial Stock Up 2.7%

Shares of NYSE JXN traded up $2.5090 on Tuesday, hitting $96.4690. The company had a trading volume of 95,080 shares, compared to its average volume of 761,230. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $115.22. The business has a 50 day moving average of $87.91 and a two-hundred day moving average of $84.69. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $6.72 billion, a P/E ratio of -1,606.62 and a beta of 1.46.

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

Jackson Financial Dividend Announcement

The firm 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 $0.80 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. Jackson Financial's dividend payout ratio is currently -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.