Concorde Asset Management LLC Sells 300 Shares of Jackson Financial Inc. (NYSE:JXN)

Concorde Asset Management LLC decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 6.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,700 shares of the company’s stock after selling 300 shares during the period. Concorde Asset Management LLC’s holdings in Jackson Financial were worth $349,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in JXN. Norges Bank purchased a new position in shares of Jackson Financial in the 4th quarter worth about $51,189,000. Acadian Asset Management LLC lifted its stake in shares of Jackson Financial by 146.3% in the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after buying an additional 724,148 shares in the last quarter. LSV Asset Management lifted its stake in shares of Jackson Financial by 2,459.7% in the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock worth $32,625,000 after buying an additional 422,175 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after buying an additional 397,287 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Jackson Financial during the first quarter valued at approximately $21,892,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JXN has been the topic of several analyst reports. Evercore ISI lowered their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 26th. Barclays started coverage on Jackson Financial in a report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price target on the stock. Morgan Stanley lifted their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their target price on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and a consensus price target of $80.00.

Jackson Financial Stock Performance

Shares of JXN opened at $87.04 on Thursday. The firm has a market capitalization of $6.64 billion, a P/E ratio of 2.30 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a one year low of $35.27 and a one year high of $90.10. The business has a fifty day moving average of $83.59 and a 200 day moving average of $74.61.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.34 earnings per share. As a group, sell-side analysts anticipate that Jackson Financial Inc. will post 18.49 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.22%. Jackson Financial’s dividend payout ratio (DPR) is 7.40%.

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.