Martingale Asset Management L P Cuts Stock Holdings in Jackson Financial Inc. $JXN

Key Points

• Martingale Asset Management L P reduced its stake in Jackson Financial Inc. by 55.2% in Q1, selling 11,204 shares to hold 9,106 shares valued at approximately $763,000.
• Jackson Financial recently reported a quarterly EPS of $4.87, exceeding expectations, although its revenue was down 3.3% year over year.
• The company declared a $0.80 quarterly dividend, with a yield of 3.2%, payable on September 25th to shareholders of record on September 15th.

Martingale Asset Management L P cut its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 55.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,106 shares of the company's stock after selling 11,204 shares during the quarter. Martingale Asset Management L P's holdings in Jackson Financial were worth $763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JXN. Quarry LP purchased a new position in Jackson Financial in the fourth quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in shares of Jackson Financial during the 1st quarter worth approximately $37,000. Brooklyn Investment Group grew its holdings in shares of Jackson Financial by 987.0% in the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company's stock worth $42,000 after acquiring an additional 454 shares during the period. Versant Capital Management Inc increased its stake in Jackson Financial by 161.9% in the 1st quarter. Versant Capital Management Inc now owns 550 shares of the company's stock valued at $46,000 after purchasing an additional 340 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Jackson Financial in the 1st quarter valued at approximately $67,000. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Trading Up 0.6%

Shares of NYSE:JXN traded up $0.59 during trading on Friday, reaching $98.83. The stock had a trading volume of 395,836 shares, compared to its average volume of 608,517. 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 stock has a market cap of $6.88 billion, a P/E ratio of -1,646.88 and a beta of 1.46. The business has a fifty day moving average price of $90.33 and a 200-day moving average price of $85.08. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22.

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

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio is presently -5,333.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Jefferies Financial Group lifted their price target on Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Morgan Stanley raised their target price on shares of Jackson Financial from $92.00 to $97.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Finally, Barclays increased their price target on shares of Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average 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.