Public Employees Retirement System of Ohio Has $148,000 Position in Jackson Financial Inc. $JXN

Key Points

• The Public Employees Retirement System of Ohio significantly reduced its position in Jackson Financial Inc. by 80.6% in Q2, holding just 1,669 shares worth $148,000 after selling 6,919 shares.
• Jackson Financial has approved a $1.00 billion stock repurchase plan, signaling that the company believes its shares are undervalued.
• The company reported a Q2 EPS of $4.87, surpassing the consensus estimate, although its revenue decreased by 3.3% year-over-year.

Public Employees Retirement System of Ohio lowered its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 80.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,669 shares of the company's stock after selling 6,919 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Jackson Financial were worth $148,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of Jackson Financial during the 1st quarter worth about $37,000. Brooklyn Investment Group lifted its stake in shares of Jackson Financial by 987.0% during the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company's stock worth $42,000 after buying an additional 454 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Jackson Financial during the 1st quarter worth about $46,000. New Age Alpha Advisors LLC acquired a new stake in shares of Jackson Financial during the 1st quarter worth about $67,000. Finally, HWG Holdings LP acquired a new stake in shares of Jackson Financial during the 1st quarter worth about $72,000. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Price Performance

Shares of Jackson Financial stock opened at $101.59 on Tuesday. 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 twelve month low of $64.70 and a twelve month high of $115.22. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of -1,692.88 and a beta of 1.45. The company has a 50-day simple moving average of $96.33 and a two-hundred day simple moving average of $87.42.

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, beating the consensus estimate of $4.61 by $0.26. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The firm had revenue of ($471.00) million for the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm earned $5.32 EPS. The business's quarterly revenue was down 3.3% compared to the same quarter last year. Analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial declared that its board has approved a stock repurchase plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 14.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. Jackson Financial's dividend payout ratio (DPR) is currently -5,333.33%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports 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 note on Monday, July 7th. Weiss Ratings restated a "hold (c-)" rating on shares of Jackson Financial in a research note on Saturday, September 27th. Morgan Stanley raised their target price on shares of Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Zacks Research cut shares of Jackson Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of "Hold" and an average target price 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.

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