Wealth Enhancement Advisory Services LLC Grows Position in Jackson Financial Inc. $JXN

Key Points

• Wealth Enhancement Advisory Services LLC significantly increased its stake in Jackson Financial Inc. by 82.1% during the 2nd quarter, owning 8,440 shares valued at $751,000 post-purchase.
• Jackson Financial recently announced a stock repurchase plan authorizing $1.00 billion to buy back up to 14.4% of its stock, indicating that its board believes the shares are currently undervalued.
• The company reported quarterly earnings of $4.87 per share, surpassing estimates, despite a year-over-year revenue decline of 3.3%, with analysts projecting an EPS of 20.55 for the current fiscal year.

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 82.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,440 shares of the company's stock after purchasing an additional 3,805 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Jackson Financial were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Amundi boosted its stake in Jackson Financial by 90.1% in the first quarter. Amundi now owns 143,795 shares of the company's stock worth $12,047,000 after buying an additional 68,138 shares in the last quarter. GAMMA Investing LLC boosted its stake in Jackson Financial by 18.6% in the first quarter. GAMMA Investing LLC now owns 2,108 shares of the company's stock worth $177,000 after buying an additional 330 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Jackson Financial by 2.8% in the first quarter. Principal Financial Group Inc. now owns 429,789 shares of the company's stock worth $36,008,000 after buying an additional 11,805 shares in the last quarter. Richard Bernstein Advisors LLC purchased a new stake in Jackson Financial in the first quarter worth approximately $3,069,000. Finally, SG Americas Securities LLC boosted its stake in Jackson Financial by 670.0% in the first quarter. SG Americas Securities LLC now owns 15,393 shares of the company's stock worth $1,290,000 after buying an additional 13,394 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $103.76 on Friday. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-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. The business has a fifty day moving average price of $96.06 and a 200-day moving average price of $87.26. The company has a market capitalization of $7.23 billion, a PE ratio of -1,728.96 and a beta of 1.45.

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

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

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.1%. Jackson Financial's dividend payout ratio (DPR) is presently -5,333.33%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JXN. Morgan Stanley increased their price objective on Jackson Financial from $92.00 to $97.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Barclays increased their price objective on Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Weiss Ratings reissued a "hold (c-)" rating on shares of Jackson Financial in a research note on Saturday, September 27th. Finally, Jefferies Financial Group increased their price objective on Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $101.20.

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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