Vanguard Group Inc. Cuts Stake in Jackson Financial Inc. (NYSE:JXN)

Key Points

• Vanguard Group Inc. reduced its stake in Jackson Financial by 0.3%, owning approximately 9.36 million shares valued at $784.57 million after selling 27,548 shares.
• Several hedge funds increased their holdings in Jackson Financial, with Assenagon Asset Management boosting its stake by 385.3% in the first quarter.
• Jackson Financial announced a quarterly dividend of $0.80, resulting in an annualized dividend yield of 3.4% for shareholders of record.

Vanguard Group Inc. lessened its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,364,581 shares of the company's stock after selling 27,548 shares during the period. Vanguard Group Inc. owned approximately 12.89% of Jackson Financial worth $784,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Jackson Financial by 18.6% during the first quarter. GAMMA Investing LLC now owns 2,108 shares of the company's stock worth $177,000 after purchasing an additional 330 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Jackson Financial by 13.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company's stock worth $388,000 after purchasing an additional 547 shares during the last quarter. Principal Financial Group Inc. grew its position in Jackson Financial by 2.8% during the first quarter. Principal Financial Group Inc. now owns 429,789 shares of the company's stock valued at $36,008,000 after buying an additional 11,805 shares during the period. SG Americas Securities LLC grew its position in Jackson Financial by 670.0% during the first quarter. SG Americas Securities LLC now owns 15,393 shares of the company's stock valued at $1,290,000 after buying an additional 13,394 shares during the period. Finally, Deutsche Bank AG grew its position in Jackson Financial by 48.9% during the fourth quarter. Deutsche Bank AG now owns 65,617 shares of the company's stock valued at $5,714,000 after buying an additional 21,556 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Price Performance

Shares of NYSE JXN traded down $1.93 during trading on Friday, hitting $94.52. The company had a trading volume of 418,297 shares, compared to its average volume of 600,927. The stock has a fifty day simple moving average of $87.70 and a two-hundred day simple moving average of $84.78. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of -1,575.07 and a beta of 1.46. 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 (NYSE:JXN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share (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 business had revenue of ($471.00) million for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business earned $5.32 earnings per share. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, research analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, September 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 15th. Jackson Financial's dividend payout ratio (DPR) is currently -5,333.33%.

Wall Street Analysts Forecast Growth

JXN has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a research report on Monday, August 11th. Jefferies Financial Group raised their price target on shares of Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Morgan Stanley set a $91.00 price target on shares of Jackson Financial and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Barclays raised their price target on shares of Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Jackson Financial currently has an average rating of "Hold" and a consensus target price of $100.00.

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.