Jackson Financial Inc. (NYSE:JXN) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its position in Jackson Financial Inc. (NYSE:JXN) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,866 shares of the company’s stock after selling 743 shares during the period. CIBC Asset Management Inc’s holdings in Jackson Financial were worth $510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new stake in shares of Jackson Financial during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its position in Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares in the last quarter. GAMMA Investing LLC grew its holdings in Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in shares of Jackson Financial in the fourth quarter valued at approximately $57,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Jackson Financial during the 1st quarter worth approximately $66,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JXN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted 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. 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 research note on Wednesday, June 26th. Barclays assumed coverage on Jackson Financial in a report on Wednesday. They issued an “overweight” rating and a $109.00 price objective on the stock. Morgan Stanley increased their target price 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, Jefferies Financial Group lifted their price target on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial has an average rating of “Hold” and a consensus target price of $80.00.

Jackson Financial Trading Down 4.3 %

JXN opened at $81.20 on Friday. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 2.14 and a beta of 1.50. The company’s 50 day simple moving average is $82.30 and its two-hundred day simple moving average is $72.80. Jackson Financial Inc. has a 1-year low of $35.27 and a 1-year high of $90.10. 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 (NYSE:JXN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 EPS. Analysts expect that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Announces Dividend

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 given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.45%. Jackson Financial’s payout ratio is 7.40%.

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.