Jackson Financial Inc. $JXN Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in Jackson Financial Inc. (NYSE:JXN) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,727 shares of the company’s stock after acquiring an additional 7,075 shares during the period. Edgestream Partners L.P. owned about 0.14% of Jackson Financial worth $8,766,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Jackson Financial by 111.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares during the period. Brooklyn Investment Group grew its stake in shares of Jackson Financial by 987.0% in the first quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock valued at $42,000 after buying an additional 454 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Jackson Financial by 1,342.9% during the 2nd quarter. Sound Income Strategies LLC now owns 505 shares of the company’s stock valued at $45,000 after buying an additional 470 shares during the period. Banque Transatlantique SA acquired a new position in Jackson Financial during the 1st quarter worth approximately $46,000. Finally, Hantz Financial Services Inc. boosted its holdings in Jackson Financial by 62.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock worth $50,000 after acquiring an additional 215 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of JXN stock opened at $97.79 on Tuesday. The firm has a fifty day moving average of $97.57 and a two-hundred day moving average of $92.40. The firm has a market cap of $6.65 billion, a P/E ratio of 13.53 and a beta of 1.45. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $104.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. The business had revenue of ($1,162.00) million for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 15.73%. As a group, research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, December 4th. Jackson Financial’s dividend payout ratio (DPR) is currently 44.26%.

Jackson Financial announced that its Board of Directors has authorized a share 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 generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jackson Financial in a report on Tuesday, November 25th. Evercore ISI upped their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods raised 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $108.80.

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.