MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 17,664 Shares of Jackson Financial Inc. $JXN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in Jackson Financial Inc. by 28.9%, owning 43,563 shares after selling 17,664 shares in the first quarter.
• Jackson Financial reported a net margin of 1.73% and earnings per share of $4.87, exceeding analysts' estimates by $0.26, despite a revenue decline of 3.3% year-over-year.
• The company announced a quarterly dividend of $0.80 per share, resulting in an annualized dividend yield of 3.3%, with a significant payout ratio of -5,333.33%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 28.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,563 shares of the company's stock after selling 17,664 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Jackson Financial worth $3,650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. boosted its stake in Jackson Financial by 7.0% in the first quarter. Donald Smith & CO. Inc. now owns 1,666,047 shares of the company's stock valued at $139,581,000 after acquiring an additional 108,758 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Jackson Financial by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,084,560 shares of the company's stock valued at $90,864,000 after buying an additional 5,320 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Jackson Financial by 385.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company's stock valued at $73,288,000 after buying an additional 694,518 shares in the last quarter. LSV Asset Management lifted its stake in shares of Jackson Financial by 11.1% during the 1st quarter. LSV Asset Management now owns 651,798 shares of the company's stock valued at $54,608,000 after buying an additional 65,239 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Jackson Financial during the 1st quarter valued at approximately $43,830,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Jefferies Financial Group upped their price target on shares of Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Morgan Stanley upped 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 note on Monday, August 18th. Barclays upped their price target on shares of Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. 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 research note on Monday, August 11th. Finally, Zacks Research cut shares of Jackson Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $101.20.

Jackson Financial Price Performance

Jackson Financial stock traded up $2.71 during midday trading on Thursday, reaching $99.50. 888,788 shares of the stock were exchanged, compared to its average volume of 511,580. The company's fifty day moving average is $92.88 and its 200-day moving average is $85.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $6.93 billion, a PE ratio of -1,658.06 and a beta of 1.46. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 1.73% and a return on equity of 14.73%. Jackson Financial's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.32 EPS. On average, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Dividend Announcement

The business 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 $0.80 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. Jackson Financial's dividend payout ratio is presently -5,333.33%.

Jackson Financial Company 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.