Millennium Management LLC Grows Stock Holdings in Jackson Financial Inc. $JXN

Key Points

• Millennium Management LLC boosted its stake in Jackson Financial by 296.7%, acquiring an additional 492,492 shares, bringing its total to 658,468 shares valued at approximately $55 million.
• Jackson Financial announced a quarterly dividend of $0.80 per share, translating to an annual yield of 3.4%, with the payment set for September 25th.
• Recent analyst ratings have resulted in increased price targets for Jackson Financial, with Barclays raising theirs from $108 to $114, signifying overall positive sentiment despite varied ratings.

Millennium Management LLC boosted its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 296.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,468 shares of the company's stock after buying an additional 492,492 shares during the period. Millennium Management LLC owned approximately 0.91% of Jackson Financial worth $55,166,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its holdings in shares of Jackson Financial by 33.2% in the first quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company's stock valued at $458,000 after acquiring an additional 1,363 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Jackson Financial in the first quarter valued at approximately $46,000. Amundi grew its holdings in shares of Jackson Financial by 90.1% in the first quarter. Amundi now owns 143,795 shares of the company's stock valued at $12,047,000 after acquiring an additional 68,138 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Jackson Financial by 29.5% in the first quarter. Ancora Advisors LLC now owns 91,740 shares of the company's stock valued at $7,686,000 after acquiring an additional 20,910 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Jackson Financial during the first quarter valued at $257,000. 89.96% of the stock is owned by institutional investors.

Jackson Financial Price Performance

Shares of JXN stock traded down $1.31 on Friday, reaching $97.71. The company's stock had a trading volume of 596,003 shares, compared to its average volume of 459,258. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $115.22. The company has a market capitalization of $6.81 billion, a P/E ratio of -1,628.30 and a beta of 1.46. The stock's 50 day simple moving average is $92.16 and its 200-day simple moving average is $85.58.

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

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio (DPR) is -5,333.33%.

Analysts Set New Price Targets

Several equities analysts have weighed in on JXN shares. Morgan Stanley increased their price objective on 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 increased their target price on Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Barclays increased their target price on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Jefferies Financial Group increased their target price on Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $101.20.

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.