R Squared Ltd Takes Position in Jackson Financial Inc. $JXN

Key Points

• R Squared Ltd acquired a new stake in Jackson Financial Inc. valued at approximately $308,000 by purchasing 3,471 shares during the second quarter.
• Jackson Financial announced a $1.00 billion share buyback program that allows the company to repurchase up to 14.4% of its outstanding shares, indicating that the board believes the stock is undervalued.
• The company declared a quarterly dividend of $0.80 per share, with a yield of 3.2%, which shows its commitment to returning value to shareholders.

R Squared Ltd acquired a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,471 shares of the company's stock, valued at approximately $308,000.

A number of other institutional investors have also modified their holdings of JXN. Brooklyn Investment Group grew its stake in shares of Jackson Financial by 987.0% in the first quarter. Brooklyn Investment Group now owns 500 shares of the company's stock valued at $42,000 after buying an additional 454 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Jackson Financial by 1,342.9% in the second quarter. Sound Income Strategies LLC now owns 505 shares of the company's stock valued at $45,000 after buying an additional 470 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Jackson Financial in the first quarter valued at $46,000. New Age Alpha Advisors LLC purchased a new position in Jackson Financial in the first quarter valued at $67,000. Finally, Raiffeisen Bank International AG boosted its holdings in Jackson Financial by 11.7% in the first quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company's stock valued at $106,000 after purchasing an additional 133 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Up 1.6%

Shares of NYSE JXN opened at $99.27 on Friday. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -1,654.17 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50-day moving average of $98.47 and a two-hundred day moving average of $88.92. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The company had revenue of ($1,162.00) million during the quarter. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%. On average, analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial announced that its board has approved a share buyback program on Thursday, September 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 14.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were given a dividend of $0.80 per share. The ex-dividend date was Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. Jackson Financial's payout ratio is -5,333.33%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays lifted their target price on Jackson Financial from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Jackson Financial in a report on Wednesday, October 8th. Evercore ISI lifted their target price on Jackson Financial from $100.00 to $110.00 and gave the company an "underperform" rating in a report on Thursday, October 9th. Morgan Stanley lifted their target price on Jackson Financial from $97.00 to $106.00 and gave the company an "equal weight" rating in a report on Tuesday, October 7th. Finally, Jefferies Financial Group lifted their target price on Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $109.20.

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.

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