Kendall Capital Management Increases Stock Position in Jackson Financial Inc. (NYSE:JXN)

Kendall Capital Management boosted its stake in Jackson Financial Inc. (NYSE:JXN) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,400 shares of the company’s stock after acquiring an additional 850 shares during the period. Jackson Financial comprises approximately 1.2% of Kendall Capital Management’s portfolio, making the stock its 22nd largest position. Kendall Capital Management owned approximately 0.07% of Jackson Financial worth $3,743,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JXN. Avantax Advisory Services Inc. purchased a new stake in Jackson Financial in the fourth quarter valued at $230,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Jackson Financial in the fourth quarter valued at about $316,000. Norges Bank purchased a new stake in shares of Jackson Financial in the fourth quarter valued at about $51,189,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Jackson Financial in the fourth quarter valued at about $567,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Jackson Financial by 214.2% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,072 shares of the company’s stock valued at $1,744,000 after buying an additional 23,228 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JXN. Jefferies Financial Group upped their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Barclays began coverage on shares of Jackson Financial in a report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price for the company. Keefe, Bruyette & Woods increased their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Morgan Stanley lifted their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Finally, Evercore ISI cut their target price on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $80.00.

Jackson Financial Price Performance

JXN stock opened at $87.04 on Thursday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 2.30 and a beta of 1.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $83.59 and a 200-day moving average of $74.61. Jackson Financial Inc. has a 12-month low of $35.27 and a 12-month high of $90.10.

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

Jackson Financial Dividend Announcement

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

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.