Daiwa Securities Group Inc. Sells 600 Shares of Jackson Financial Inc. (NYSE:JXN)

Daiwa Securities Group Inc. cut its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 13.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,000 shares of the company’s stock after selling 600 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Jackson Financial were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. LSV Asset Management raised its holdings in Jackson Financial by 2,459.7% in the 2nd quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after acquiring an additional 422,175 shares in the last quarter. Acadian Asset Management LLC raised its stake in Jackson Financial by 146.3% in the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after purchasing an additional 724,148 shares in the last quarter. Private Advisor Group LLC lifted its position in Jackson Financial by 1.2% during the second quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after purchasing an additional 178 shares during the period. Farmers & Merchants Investments Inc. grew its stake in Jackson Financial by 2,173.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,046 shares of the company’s stock worth $78,000 after buying an additional 1,000 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Jackson Financial by 9.1% in the 2nd quarter. Arizona State Retirement System now owns 21,450 shares of the company’s stock valued at $1,593,000 after buying an additional 1,786 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Up 0.9 %

Shares of NYSE JXN opened at $85.84 on Wednesday. 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. The firm has a market cap of $6.55 billion, a PE ratio of 2.27 and a beta of 1.50. The company has a 50 day simple moving average of $83.39 and a 200 day simple moving average of $74.52.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm posted $3.34 EPS. Jackson Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, research analysts forecast that Jackson Financial Inc. will post 18.49 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.26%. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays started coverage on Jackson Financial in a research note on Wednesday, September 4th. They set an “overweight” rating and a $109.00 target price for the company. Jefferies Financial Group lifted their target price on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their target price 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 report on Wednesday, June 26th. Finally, Morgan Stanley increased 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 note on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.