Evelyn Partners Investment Management LLP has expanded its stake in Jackson Financial Inc. (NYSE:JXN) by an impressive 261.6% during the second quarter, according to data from Holdings Channel. The institutional investor now holds 12,301 shares of Jackson Financial, having acquired an additional 8,899 shares over the quarter, bringing the total value of its holdings to approximately $1.09 million.
Other institutional investors have also adjusted their positions in Jackson Financial, indicating a broader interest in the company. Notably, Nuveen LLC entered a new position in the first quarter valued at $43.83 million. Additionally, Millennium Management LLC increased its stake by 296.7% during the same period, now owning 658,468 shares worth $55.17 million after adding 492,492 shares.
LSV Asset Management raised its holdings in Jackson Financial by 28.3% in the second quarter, resulting in ownership of 836,238 shares valued at $74.25 million. Cubist Systematic Strategies LLC also boosted its stake by 144.4%, now owning 253,504 shares worth $21.24 million. Furthermore, JPMorgan Chase & Co. increased its holdings by 27.5%, bringing its total to 662,569 shares valued at $58.83 million. Overall, hedge funds and other institutional investors now own 89.96% of Jackson Financial’s stock.
Analyst Ratings and Stock Performance
Recent evaluations from analysts reflect a mix of opinions regarding Jackson Financial. Barclays raised its target price from $125.00 to $128.00, rating the stock as “overweight” in a report dated November 5. Weiss Ratings maintained a “hold (C+)” rating for the shares, while Evercore ISI increased its target from $100.00 to $110.00, despite listing the stock as “underperform.” Jefferies Financial Group also adjusted its price target, increasing it from $88.00 to $95.00 and gave a “hold” rating. Zacks Research upgraded the stock from “hold” to “strong-buy” on October 13, reflecting growing confidence in Jackson Financial’s future.
Analysts have generally expressed cautious optimism, with one analyst giving a Strong Buy rating, one issuing a Buy rating, four assigning a Hold rating, and one rating it as a Sell. The average rating currently stands at “Hold” with a consensus price target of $108.80.
Jackson Financial’s stock opened at $93.75 recently, with key financial ratios indicating a current ratio of 0.27, a quick ratio of 0.27, and a debt-to-equity ratio of 0.47. The company reported a 12-month low of $64.70 and a high of $104.61. With a market capitalization of $6.37 billion, Jackson Financial has a price-to-earnings (P/E) ratio of 12.97 and a beta of 1.45.
Recent Earnings and Future Plans
Jackson Financial disclosed its quarterly earnings on March 22, reporting earnings per share of $6.26 for the quarter. The company experienced revenue of $1.162 billion during this period, reflecting a net margin of 1.73% and a return on equity of 15.73%. Analysts project that Jackson Financial will achieve earnings per share of $20.55 for the current year.
In a strategic move, Jackson Financial’s Board of Directors approved a share repurchase plan on September 18, allowing the company to buy back up to $1 billion in shares, equivalent to 14.4% of its stock. Such buyback plans typically signal that the board believes the company’s shares are undervalued.
Additionally, Jackson Financial has announced a quarterly dividend of $0.80, scheduled for payment on December 18. Shareholders of record on December 4 will receive this dividend, which translates to an annualized payout of $3.20 and a yield of 3.4%. The current payout ratio stands at 44.26%.
Jackson Financial Inc., through its subsidiaries, provides a range of annuity products to retail investors in the United States, operating through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. This comprehensive offering includes various retirement income and savings products, aimed at addressing the diverse financial needs of its clients.
