Jackson Financial Inc. $JXN Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS decreased its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,500 shares of the company’s stock after selling 400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Jackson Financial were worth $1,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raiffeisen Bank International AG increased its position in shares of Jackson Financial by 11.7% in the first quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company’s stock worth $106,000 after acquiring an additional 133 shares in the last quarter. Triumph Capital Management increased its position in shares of Jackson Financial by 3.6% in the second quarter. Triumph Capital Management now owns 3,990 shares of the company’s stock worth $354,000 after acquiring an additional 138 shares in the last quarter. CWM LLC increased its position in shares of Jackson Financial by 7.9% in the first quarter. CWM LLC now owns 1,975 shares of the company’s stock worth $165,000 after acquiring an additional 145 shares in the last quarter. Tcfg Wealth Management LLC increased its position in shares of Jackson Financial by 3.5% in the second quarter. Tcfg Wealth Management LLC now owns 4,356 shares of the company’s stock worth $387,000 after acquiring an additional 149 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of Jackson Financial by 2.5% in the first quarter. Xponance Inc. now owns 6,738 shares of the company’s stock worth $565,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Price Performance

Shares of JXN stock opened at $94.97 on Monday. The firm has a market cap of $6.61 billion, a P/E ratio of -1,582.57 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22. The firm has a fifty day moving average of $97.33 and a two-hundred day moving average of $87.74.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. The company had revenue of ($1,162.00) million during the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. As a group, research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial declared that its board has initiated a share buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is presently -5,333.33%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JXN. Zacks Research lowered shares of Jackson Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 12th. Barclays raised their price target on shares of Jackson Financial from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Jackson Financial in a report on Wednesday, October 8th. Evercore ISI raised their price target on shares of Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.20.

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.