Voya Investment Management LLC Lowers Stock Position in Jackson Financial Inc. $JXN

Voya Investment Management LLC reduced its position in shares of Jackson Financial Inc. (NYSE:JXN) by 28.5% during the third quarter, Holdings Channel reports. The firm owned 17,605 shares of the company’s stock after selling 7,017 shares during the period. Voya Investment Management LLC’s holdings in Jackson Financial were worth $1,782,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in JXN. Norges Bank purchased a new stake in Jackson Financial in the 2nd quarter valued at about $102,131,000. Millennium Management LLC increased its position in shares of Jackson Financial by 296.7% during the first quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock valued at $55,166,000 after acquiring an additional 492,492 shares during the last quarter. LSV Asset Management increased its position in shares of Jackson Financial by 28.3% during the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock valued at $74,250,000 after acquiring an additional 184,440 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Jackson Financial by 144.4% during the first quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company’s stock worth $21,239,000 after acquiring an additional 149,799 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Jackson Financial by 27.5% in the second quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after purchasing an additional 143,091 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Performance

Shares of JXN stock opened at $108.29 on Monday. The firm’s 50 day moving average is $99.22 and its 200 day moving average is $95.27. The stock has a market capitalization of $7.36 billion, a P/E ratio of 14.98 and a beta of 1.45. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $109.16. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. Jackson Financial had a return on equity of 15.73% and a net margin of 1.73%.The firm had revenue of ($1,162.00) million during the quarter. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial announced that its board has initiated a stock buyback program on Thursday, September 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, December 4th. Jackson Financial’s dividend payout ratio is presently 44.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JXN. Barclays lifted their target price on Jackson Financial from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Evercore ISI increased their target price 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. Morgan Stanley set a $105.00 price target on shares of Jackson Financial in a research note on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 22nd. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $109.60.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.