Ritholtz Wealth Management Has $1.71 Million Holdings in Jackson Financial Inc. $JXN

Key Points

• Ritholtz Wealth Management has reduced its stake in Jackson Financial Inc. by 12.9%, currently holding 19,258 shares valued at $1.71 million.
• Analysts have recently increased their price targets for Jackson Financial, with Barclays raising it from $118.00 to $125.00 and Zacks Research upgrading the stock from a "hold" to a "strong-buy" rating.
• Jackson Financial initiated a stock repurchase program, authorizing the buyback of up to $1 billion, which indicates the board's belief that the stock is undervalued.

Ritholtz Wealth Management cut its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,258 shares of the company's stock after selling 2,840 shares during the period. Ritholtz Wealth Management's holdings in Jackson Financial were worth $1,710,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in JXN. Nuveen LLC acquired a new stake in shares of Jackson Financial during the first quarter worth $43,830,000. Millennium Management LLC grew its stake in Jackson Financial by 296.7% in the first quarter. Millennium Management LLC now owns 658,468 shares of the company's stock valued at $55,166,000 after acquiring an additional 492,492 shares during the period. Cubist Systematic Strategies LLC grew its stake in Jackson Financial by 144.4% in the first quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company's stock valued at $21,239,000 after acquiring an additional 149,799 shares during the period. Donald Smith & CO. Inc. grew 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 period. Finally, Jump Financial LLC acquired a new position in Jackson Financial in the first quarter valued at about $8,177,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on JXN shares. Barclays boosted their target price on Jackson Financial from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Zacks Research raised Jackson Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday. Evercore ISI boosted their target price on Jackson Financial from $100.00 to $110.00 and gave the company an "underperform" rating in a research note on Thursday, October 9th. Weiss Ratings reissued a "hold (c-)" rating on shares of Jackson Financial in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $105.00 to $110.00 and gave the company a "market perform" rating in a research note on Thursday, October 9th. One equities 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 assigned a Sell rating to the stock. According to MarketBeat, Jackson Financial presently has an average rating of "Hold" and a consensus price target of $109.20.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $94.55 on Friday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -1,575.57 and a beta of 1.45. The stock's 50-day moving average is $98.02 and its 200-day moving average is $88.04. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28.

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

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

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, September 15th. Jackson Financial's dividend payout ratio is presently -5,333.33%.

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.

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