Jacobs Levy Equity Management Inc. Cuts Position in Jackson Financial Inc. $JXN

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Jackson Financial Inc. by 41.2%, owning 636,544 shares worth $53.33 million after selling 446,430 shares in the first quarter.
• Institutional ownership of Jackson Financial is high, with 89.96% of the stock held by institutional investors, including notable increases by firms like Donald Smith & CO. and Assenagon Asset Management.
• Jackson Financial announced a quarterly dividend of $0.80 per share, set to be paid on September 25, with a dividend yield of 3.4%.

Jacobs Levy Equity Management Inc. decreased its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 41.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 636,544 shares of the company's stock after selling 446,430 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.88% of Jackson Financial worth $53,330,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JXN. BNP Paribas Financial Markets acquired a new stake in shares of Jackson Financial during the 4th quarter valued at $8,282,000. BOKF NA raised its position in Jackson Financial by 5.1% during the 4th quarter. BOKF NA now owns 6,311 shares of the company's stock worth $534,000 after purchasing an additional 309 shares during the last quarter. Cetera Investment Advisers raised its position in Jackson Financial by 1.6% during the 4th quarter. Cetera Investment Advisers now owns 61,624 shares of the company's stock worth $5,366,000 after purchasing an additional 947 shares during the last quarter. Deutsche Bank AG raised its position in Jackson Financial by 48.9% during the 4th quarter. Deutsche Bank AG now owns 65,617 shares of the company's stock worth $5,714,000 after purchasing an additional 21,556 shares during the last quarter. Finally, Ethic Inc. bought a new position in Jackson Financial during the 4th quarter worth $455,000. Institutional investors and hedge funds own 89.96% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on JXN shares. 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 research report on Monday, August 11th. Morgan Stanley raised their target price on Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Finally, Barclays lifted their price objective on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $101.20.

Jackson Financial Stock Up 0.4%

JXN stock traded up $0.38 during mid-day trading on Wednesday, reaching $96.85. 241,887 shares of the company traded hands, compared to its average volume of 738,536. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of -1,613.88 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. The firm's 50 day moving average price is $91.60 and its 200 day moving average price is $85.32.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.61 by $0.26. The business had revenue of ($471.00) million during the quarter, compared to the consensus estimate of $1.77 billion. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The company's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, September 15th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. Jackson Financial's payout ratio is presently -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.