Jupiter Asset Management Ltd. Lowers Holdings in Jackson Financial Inc. (NYSE:JXN)

Key Points

• Jupiter Asset Management Ltd. significantly reduced its stake in Jackson Financial Inc. by 84.5%, selling 365,326 shares in the first quarter and now holding only 67,186 shares.
• In the last quarter, several institutional investors increased their positions in Jackson Financial, with CIBC Private Wealth Group LLC notably raising its holdings by 904.1%.
• Jackson Financial reported earnings of $5.10 per share, exceeding analysts' expectations, and also announced a quarterly dividend of $0.80, reflecting a dividend yield of 3.8%.

Jupiter Asset Management Ltd. lowered its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 84.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,186 shares of the company's stock after selling 365,326 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.09% of Jackson Financial worth $5,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP purchased a new position in shares of Jackson Financial during the fourth quarter worth $28,000. NBC Securities Inc. acquired a new position in shares of Jackson Financial in the 1st quarter valued at $37,000. Versant Capital Management Inc boosted its stake in 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 purchasing an additional 340 shares during the period. HWG Holdings LP purchased a new position in shares of Jackson Financial in the 1st quarter valued at about $72,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Jackson Financial during the 4th quarter valued at about $79,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

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

Jackson Financial Price Performance

Jackson Financial stock traded down $3.83 during trading hours on Thursday, reaching $88.88. 485,251 shares of the stock were exchanged, compared to its average volume of 774,004. The stock has a 50 day moving average of $86.23 and a two-hundred day moving average of $84.91. The company has a market cap of $6.35 billion, a P/E ratio of -1,481.00 and a beta of 1.46. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.43.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 earnings per share 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 analyst estimates of $1.77 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 14.78%. Jackson Financial's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.32 EPS. Equities analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.6%. Jackson Financial's dividend payout ratio is currently 310.68%.

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.