Massachusetts Financial Services Co. MA Grows Holdings in Jackson Financial Inc. (NYSE:JXN)

Massachusetts Financial Services Co. MA grew its position in shares of Jackson Financial Inc. (NYSE:JXN) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,946 shares of the company’s stock after buying an additional 8,142 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.17% of Jackson Financial worth $9,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assetmark Inc. purchased a new stake in Jackson Financial during the fourth quarter worth about $2,270,000. Cetera Investment Advisers bought a new position in shares of Jackson Financial during the 1st quarter worth $3,812,000. FORA Capital LLC increased its holdings in Jackson Financial by 399.7% in the 1st quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after acquiring an additional 22,312 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Jackson Financial by 32.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock worth $4,044,000 after purchasing an additional 14,848 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Jackson Financial by 16.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock valued at $2,714,000 after purchasing an additional 5,819 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

Shares of Jackson Financial stock opened at $90.10 on Friday. The business’s 50-day moving average price is $84.13 and its 200-day moving average price is $75.11. The firm has a market capitalization of $6.87 billion, a PE ratio of 2.38 and a beta of 1.50. Jackson Financial Inc. has a 12 month low of $35.27 and a 12 month high of $92.25. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.71 billion. Jackson Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.34 EPS. Sell-side analysts forecast that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.11%. Jackson Financial’s payout ratio is 7.40%.

Wall Street Analyst Weigh In

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

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.