Wealthcare Advisory Partners LLC Has $1.10 Million Holdings in Jackson Financial Inc. $JXN

Wealthcare Advisory Partners LLC cut its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 12.0% during the second quarter, HoldingsChannel.com reports. The firm owned 12,400 shares of the company’s stock after selling 1,696 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Jackson Financial were worth $1,101,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in shares of Jackson Financial in the 1st quarter valued at about $37,000. Brooklyn Investment Group increased its stake in shares of Jackson Financial by 987.0% in the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock valued at $42,000 after acquiring an additional 454 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of 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 acquiring an additional 470 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Jackson Financial in the 1st quarter valued at about $46,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Jackson Financial in the 1st quarter valued at about $67,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

NYSE JXN opened at $100.43 on Wednesday. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28. The business has a 50 day simple moving average of $96.57 and a 200 day simple moving average of $87.51. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of -1,673.49 and a beta of 1.45.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm posted $5.32 EPS. The business’s revenue was down 3.3% on a year-over-year basis. Analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial declared that its board has authorized a share repurchase program on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 14.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.2%. Jackson Financial’s dividend payout ratio is -5,333.33%.

Wall Street Analyst Weigh In

JXN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Jackson Financial in a research note on Saturday, September 27th. Morgan Stanley upped their price target on Jackson Financial from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $102.00 to $105.00 and gave the stock a “market perform” rating in a research note on Monday, August 11th. Zacks Research cut Jackson Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Finally, Barclays increased their target price on Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and a consensus target price of $103.00.

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.