VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Jackson Financial Inc. $JXN

Key Points

• Virginia Retirement Systems acquired a new stake in Jackson Financial Inc., purchasing 35,645 shares valued at approximately $3.16 million in Q2.
• The company announced a $1 billion stock buyback plan, enabling repurchases of up to 14.4% of its stock, suggesting that its board believes the stock is undervalued.
• Jackson Financial's recent quarterly earnings reported earnings per share of $6.26 and a negative revenue figure of ($1,162 million), indicating financial challenges despite a return on equity of 14.73%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 35,645 shares of the company's stock, valued at approximately $3,165,000.

A number of other large investors have also made changes to their positions in JXN. Nuveen LLC bought a new stake in shares of Jackson Financial in the 1st quarter valued at $43,830,000. Millennium Management LLC increased its position in shares of Jackson Financial by 296.7% in the 1st quarter. Millennium Management LLC now owns 658,468 shares of the company's stock valued at $55,166,000 after buying an additional 492,492 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Jackson Financial by 144.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company's stock valued at $21,239,000 after buying an additional 149,799 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of Jackson Financial by 7.0% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,666,047 shares of the company's stock valued at $139,581,000 after buying an additional 108,758 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Jackson Financial in the 1st quarter valued at $8,177,000. Institutional investors own 89.96% of the company's stock.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $97.94 on Tuesday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -1,632.06 and a beta of 1.45. The business has a 50-day moving average of $98.26 and a 200-day moving average of $88.41. 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 Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 earnings per share 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%. As a group, sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 14.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, September 15th. Jackson Financial's dividend payout ratio (DPR) is -5,333.33%.

Analyst Ratings Changes

A number of analysts recently commented on JXN shares. Zacks Research upgraded shares of Jackson Financial from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. Jefferies Financial Group increased their target price on Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Jackson Financial in a report on Wednesday, October 8th. Morgan Stanley increased their target price on Jackson Financial from $97.00 to $106.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Finally, Evercore ISI increased their target price on Jackson Financial from $100.00 to $110.00 and gave the stock an "underperform" rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Jackson Financial presently has an average rating of "Hold" and a consensus target price of $109.20.

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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