Alexander Labrunerie & CO. Inc. Decreases Stake in Jackson Financial Inc. $JXN

Alexander Labrunerie & CO. Inc. lowered its position in Jackson Financial Inc. (NYSE:JXN) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,394 shares of the company’s stock after selling 470 shares during the quarter. Jackson Financial comprises 1.3% of Alexander Labrunerie & CO. Inc.’s investment portfolio, making the stock its 21st largest holding. Alexander Labrunerie & CO. Inc. owned approximately 0.05% of Jackson Financial worth $3,231,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in JXN. GAMMA Investing LLC grew its holdings in Jackson Financial by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 2,108 shares of the company’s stock valued at $177,000 after buying an additional 330 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Jackson Financial by 13.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company’s stock worth $388,000 after buying an additional 547 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Jackson Financial by 69.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,014 shares of the company’s stock worth $336,000 after buying an additional 1,652 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Jackson Financial by 25.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 19,908 shares of the company’s stock worth $1,668,000 after buying an additional 4,004 shares during the last quarter. Finally, Highland Capital Management LLC bought a new stake in Jackson Financial in the first quarter valued at approximately $216,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on JXN shares. Jefferies Financial Group boosted their price objective on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Jackson Financial in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on Jackson Financial from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price target on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Finally, Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average price target of $109.20.

Jackson Financial Stock Up 0.4%

NYSE JXN opened at $99.75 on Tuesday. The stock’s 50-day moving average price is $98.58 and its 200-day moving average price is $89.28. The company has a market capitalization of $6.95 billion, a P/E ratio of -1,662.19 and a beta of 1.45. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $115.22. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The company had revenue of ($1,162.00) million for the quarter. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%. On average, equities research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.2%. Jackson Financial’s payout ratio is presently -5,333.33%.

Jackson Financial announced that its Board of Directors has authorized a stock buyback program on Thursday, September 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 14.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.