Martingale Asset Management L P Decreases Position 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 lessened its position in 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 fund owned 9,106 shares of the company's stock after selling 11,204 shares during the period. Martingale Asset Management L P's holdings in Jackson Financial were worth $763,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in JXN. Raiffeisen Bank International AG lifted its position in shares of Jackson Financial by 11.7% in the 1st quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company's stock worth $106,000 after purchasing an additional 133 shares during the period. CWM LLC lifted its position in shares of Jackson Financial by 7.9% in the 1st quarter. CWM LLC now owns 1,975 shares of the company's stock worth $165,000 after purchasing an additional 145 shares during the period. Wealthcare Advisory Partners LLC lifted its position in shares of Jackson Financial by 1.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,096 shares of the company's stock worth $1,181,000 after purchasing an additional 166 shares during the period. Xponance Inc. lifted its position in shares of Jackson Financial by 2.5% in the 1st quarter. Xponance Inc. now owns 6,738 shares of the company's stock worth $565,000 after purchasing an additional 166 shares during the period. Finally, Ethic Inc. lifted its position in shares of Jackson Financial by 3.9% in the 1st quarter. Ethic Inc. now owns 5,433 shares of the company's stock worth $459,000 after purchasing an additional 204 shares during the period. Institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Down 0.7%

NYSE JXN traded down $0.65 during trading hours on Wednesday, reaching $97.89. 445,275 shares of the company's stock traded hands, compared to its average volume of 630,783. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22. The firm has a market cap of $6.82 billion, a PE ratio of -1,631.19 and a beta of 1.46. The firm has a 50-day simple moving average of $89.80 and a 200 day simple moving average of $85.04. 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 (NYSE:JXN - Get Free Report) last issued its 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 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%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.32 earnings per share. Sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

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 issued 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 3.3%. Jackson Financial's payout ratio is -5,333.33%.

Analyst Ratings Changes

Several equities research analysts have recently commented on JXN shares. Barclays raised their target price on shares of Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Jefferies Financial Group raised their target price on shares of 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 lifted their price target on shares of Jackson Financial from $92.00 to $97.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. 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 company's stock. According to data from MarketBeat, the stock 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.