Russell Investments Group Ltd. Sells 38,840 Shares of Jackson Financial Inc. $JXN

Key Points

• Russell Investments Group Ltd. reduced its position in Jackson Financial Inc. by 11.1% in the first quarter, now holding approximately 0.43% of the company.
• Analysts have adjusted their price targets for Jackson Financial, with Barclays projecting a target of $114.00 and an overall consensus rating of "Hold".
• Jackson Financial announced a quarterly dividend of $0.80 per share, representing an annualized yield of 3.4%, with the ex-dividend date set for September 15th.

Russell Investments Group Ltd. reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 11.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,982 shares of the company's stock after selling 38,840 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.43% of Jackson Financial worth $26,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Jackson Financial during the 4th quarter worth about $28,000. NBC Securities Inc. purchased a new stake in shares of Jackson Financial during the first quarter worth about $37,000. Versant Capital Management Inc grew its holdings in shares of Jackson Financial by 161.9% during the first quarter. Versant Capital Management Inc now owns 550 shares of the company's stock worth $46,000 after buying an additional 340 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Jackson Financial during the first quarter worth about $67,000. Finally, HWG Holdings LP purchased a new stake in shares of Jackson Financial during the first quarter worth about $72,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JXN has been the topic of several recent analyst reports. 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 report on Monday, August 11th. Keefe, Bruyette & Woods boosted their target price 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. Barclays boosted their target price 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. Finally, 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 report on Monday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $101.20.

Jackson Financial Stock Down 0.1%

Shares of JXN traded down $0.1310 during trading hours on Wednesday, reaching $95.6090. The company's stock had a trading volume of 166,489 shares, compared to its average volume of 760,251. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of -1,591.93 and a beta of 1.46. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $88.14 and a two-hundred day moving average of $84.77.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, beating analysts' consensus estimates of $4.61 by $0.26. The company had revenue of ($471.00) million for the quarter, compared to the consensus estimate of $1.77 billion. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.32 EPS. As a group, research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently announced 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 is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. Jackson Financial's dividend payout ratio is currently -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.