Kendall Capital Management Sells 6,310 Shares of Jackson Financial Inc. $JXN

Key Points

• Kendall Capital Management has decreased its holdings in Jackson Financial Inc. by 13.1%, selling 6,310 shares in the 2nd quarter, which now makes the stock approximately 1.0% of their total holdings.
• Jackson Financial recently announced a $1 billion share buyback plan, allowing for the repurchase of up to 14.4% of its outstanding shares, indicating management's confidence in the stock's valuation.
• The company reported earnings of $4.87 per share for the last quarter, exceeding expectations, despite a revenue decline of 3.3% year-over-year, with anticipated EPS for the year projected at 20.55.

Kendall Capital Management reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 13.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,850 shares of the company's stock after selling 6,310 shares during the quarter. Jackson Financial accounts for about 1.0% of Kendall Capital Management's holdings, making the stock its 26th biggest holding. Kendall Capital Management owned approximately 0.06% of Jackson Financial worth $3,716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of JXN. GTS Securities LLC acquired a new position in Jackson Financial in the 4th quarter worth about $206,000. Public Employees Retirement System of Ohio acquired a new position in Jackson Financial in the 4th quarter worth about $3,604,000. Mackenzie Financial Corp increased its holdings in Jackson Financial by 80.0% in the 4th quarter. Mackenzie Financial Corp now owns 30,732 shares of the company's stock worth $2,676,000 after purchasing an additional 13,656 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Jackson Financial in the 4th quarter worth about $12,852,000. Finally, Centaurus Financial Inc. increased its holdings in Jackson Financial by 4.4% in the 4th quarter. Centaurus Financial Inc. now owns 10,621 shares of the company's stock worth $925,000 after purchasing an additional 452 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Up 1.4%

Shares of Jackson Financial stock opened at $103.62 on Friday. The stock's 50-day moving average is $94.70 and its 200 day moving average is $86.57. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of -1,726.68 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.26. The business had revenue of ($471.00) million for the quarter, compared to analyst estimates 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 prior year, the company earned $5.32 earnings per share. Equities research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial declared that its board has authorized a share buyback plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 14.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were issued a $0.80 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.1%. Jackson Financial's dividend payout ratio is presently -5,333.33%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JXN. Morgan Stanley upped their target price on Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Barclays increased 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. Zacks Research cut Jackson Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Jefferies Financial Group increased their price target on Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods increased their price target on Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $101.20.

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.

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