Tcfg Wealth Management LLC Has $387,000 Stake in Jackson Financial Inc. $JXN

Tcfg Wealth Management LLC lifted its stake in Jackson Financial Inc. (NYSE:JXN) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,356 shares of the company’s stock after acquiring an additional 149 shares during the period. Tcfg Wealth Management LLC’s holdings in Jackson Financial were worth $387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC grew its holdings in Jackson Financial by 27.9% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 4,981 shares of the company’s stock valued at $442,000 after purchasing an additional 1,087 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Jackson Financial by 12.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 82,163 shares of the company’s stock worth $7,295,000 after buying an additional 8,840 shares during the last quarter. PFG Investments LLC bought a new stake in shares of Jackson Financial during the 2nd quarter worth $216,000. Janney Montgomery Scott LLC grew its stake in Jackson Financial by 1.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 54,447 shares of the company’s stock valued at $4,834,000 after buying an additional 1,014 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in Jackson Financial by 1,342.9% in 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 last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JXN. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. Barclays lifted their price objective on Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Morgan Stanley increased their target price 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Jackson Financial in a report on Saturday, September 27th. Finally, Jefferies Financial Group upped their price target on Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.20.

Jackson Financial Stock Down 2.1%

JXN stock opened at $101.59 on Tuesday. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month 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 market cap of $7.08 billion, a PE ratio of -1,692.88 and a beta of 1.45. The business’s 50-day simple moving average is $96.33 and its 200 day simple moving average is $87.42.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 EPS 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 analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the firm posted $5.32 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is -5,333.33%.

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

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.