Mirae Asset Global Investments Co. Ltd. Acquires New Shares in Jackson Financial Inc. $JXN

Key Points

• Mirae Asset Global Investments initiated a position in Jackson Financial, buying 10,529 shares worth approximately $1.36 million in the third quarter.
• Analysts have a consensus Hold rating and an average price target of $134.80; recent targets include Barclays’ raised $154 objective and Keefe, Bruyette & Woods’ $140 target.
• Jackson reported quarterly EPS of $7.55, topping the $7.24 estimate, and declared a $0.90 quarterly dividend, equivalent to a 2.7% yield at the article’s cited price.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,529 shares of the company's stock, valued at approximately $1,362,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Jackson Financial by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company's stock worth $429,240,000 after buying an additional 18,740 shares during the last quarter. Donald Smith & CO. Inc. acquired a new position in shares of Jackson Financial during the second quarter valued at about $183,186,000. Bank of New York Mellon Corp grew its holdings in shares of Jackson Financial by 2.8% during the first quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company's stock valued at $96,295,000 after buying an additional 24,747 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Jackson Financial by 31.6% during the first quarter. Janus Henderson Group PLC now owns 484,713 shares of the company's stock worth $51,290,000 after acquiring an additional 116,436 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Jackson Financial by 6.2% during the first quarter. Principal Financial Group Inc. now owns 344,040 shares of the company's stock worth $36,372,000 after acquiring an additional 20,035 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JXN shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $140.00 target price on shares of Jackson Financial in a report on Friday, September 18th. Evercore set a $135.00 price target on Jackson Financial in a research note on Wednesday, August 5th. Barclays boosted their price objective on Jackson Financial from $151.00 to $154.00 and gave the stock an "overweight" rating in a report on Wednesday. Weiss Ratings reissued a "hold (c)" rating on shares of Jackson Financial in a research note on Monday, November 2nd. Finally, Wall Street Zen downgraded Jackson Financial from a "buy" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $134.80.

Jackson Financial Price Performance

JXN opened at $131.13 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.26. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 10.78 and a beta of 1.34. The firm's fifty day moving average price is $133.45 and its two-hundred day moving average price is $118.64. Jackson Financial Inc. has a 1 year low of $89.67 and a 1 year high of $150.00.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $7.55 EPS for the quarter, beating the consensus estimate of $7.24 by $0.31. Jackson Financial had a net margin of 13.41% and a return on equity of 20.46%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.07 billion.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 3rd. Jackson Financial's dividend payout ratio is presently 29.61%.

Insider Transactions at Jackson Financial

In other Jackson Financial news, CEO Christopher Raub sold 5,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the sale, the chief executive officer owned 42,160 shares in the company, valued at approximately $5,509,890.40. This trade represents a 10.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

About Jackson Financial

Jackson Financial Inc is a U.S. financial services company focused on retirement planning. Through its subsidiaries, including Jackson National Life Insurance Company, it offers annuity products designed to help individuals build and manage retirement income. Its offerings include variable, fixed, fixed-indexed and registered index-linked annuities.

The company serves individuals and financial professionals across the United States, distributing its products through a network of independent financial advisers and other financial services firms.

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