Jackson Financial Inc. (NYSE:JXN) Position Raised by LSV Asset Management

Key Points

• LSV Asset Management increased its stake in Jackson Financial by 11.1%, purchasing an additional 65,239 shares, leading to a new total of 651,798 shares worth approximately $54.6 million.
• Jackson Financial reported $5.10 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $4.93, despite a year-over-year revenue decline of 0.6%.
• The company announced a quarterly dividend of $0.80 per share, representing an annual yield of 3.8%, although its dividend payout ratio stands at an unusually high 310.68%.

LSV Asset Management boosted its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 651,798 shares of the company's stock after purchasing an additional 65,239 shares during the period. LSV Asset Management owned approximately 0.90% of Jackson Financial worth $54,608,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Trust Advisors LP increased its position in shares of Jackson Financial by 13.4% during the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company's stock worth $360,036,000 after acquiring an additional 487,803 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Jackson Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company's stock worth $188,522,000 after acquiring an additional 13,362 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Jackson Financial by 0.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,082,974 shares of the company's stock worth $94,305,000 after purchasing an additional 4,987 shares in the last quarter. Federated Hermes Inc. grew its stake in Jackson Financial by 4.2% in the fourth quarter. Federated Hermes Inc. now owns 1,010,490 shares of the company's stock worth $87,993,000 after purchasing an additional 40,828 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Jackson Financial by 12.1% in the fourth quarter. Northern Trust Corp now owns 953,082 shares of the company's stock worth $82,994,000 after purchasing an additional 102,953 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Jackson Financial Stock Performance

JXN stock traded down $2.50 during midday trading on Thursday, reaching $90.20. The company had a trading volume of 91,724 shares, compared to its average volume of 771,451. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $86.23 and a 200 day moving average price of $84.91. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22. The firm has a market capitalization of $6.44 billion, a PE ratio of -1,503.45 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 EPS for the quarter, beating analysts' consensus estimates of $4.61 by $0.26. Jackson Financial had a return on equity of 14.78% 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 period in the previous year, the firm posted $5.32 earnings per share. Jackson Financial's quarterly revenue was down 3.3% compared to the same quarter last year. Analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, September 15th. Jackson Financial's payout ratio is 310.68%.

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.