Stratos Wealth Partners LTD. Sells 5,640 Shares of Jackson Financial Inc. $JXN

Stratos Wealth Partners LTD. lessened its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 56.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,351 shares of the company’s stock after selling 5,640 shares during the period. Stratos Wealth Partners LTD.’s holdings in Jackson Financial were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Raiffeisen Bank International AG raised its position in shares of Jackson Financial by 11.7% during the 1st quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company’s stock valued at $106,000 after buying an additional 133 shares in the last quarter. Triumph Capital Management raised its position in shares of Jackson Financial by 3.6% during the 2nd quarter. Triumph Capital Management now owns 3,990 shares of the company’s stock valued at $354,000 after buying an additional 138 shares in the last quarter. CWM LLC raised its position in shares of Jackson Financial by 7.9% during the 1st quarter. CWM LLC now owns 1,975 shares of the company’s stock valued at $165,000 after buying an additional 145 shares in the last quarter. Tcfg Wealth Management LLC raised its position in shares of Jackson Financial by 3.5% during the 2nd quarter. Tcfg Wealth Management LLC now owns 4,356 shares of the company’s stock valued at $387,000 after buying an additional 149 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of Jackson Financial by 2.5% during the 1st quarter. Xponance Inc. now owns 6,738 shares of the company’s stock valued at $565,000 after buying an additional 166 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JXN. Weiss Ratings reissued a “hold (c-)” rating on shares of Jackson Financial in a research report on Wednesday, October 8th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Jefferies Financial Group increased their price objective on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Evercore ISI increased their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Jackson Financial has a consensus rating of “Hold” and a consensus target price of $109.20.

Jackson Financial Stock Performance

Shares of NYSE:JXN opened at $99.27 on Friday. The firm has a market cap of $6.91 billion, a PE ratio of -1,654.17 and a beta of 1.45. The firm’s 50 day simple moving average is $98.47 and its 200-day simple moving average is $88.92. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28.

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

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. Jackson Financial’s dividend payout ratio (DPR) is -5,333.33%.

Jackson Financial declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 14.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is 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.