Easterly Investment Partners LLC Increases Stake in Jackson Financial Inc. (NYSE:JXN)

Easterly Investment Partners LLC increased its holdings in Jackson Financial Inc. (NYSE:JXN) by 84.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 118,267 shares of the company’s stock after purchasing an additional 54,068 shares during the period. Easterly Investment Partners LLC owned approximately 0.16% of Jackson Financial worth $8,783,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Fifth Third Bancorp boosted its stake in shares of Jackson Financial by 1,267.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,614 shares of the company’s stock valued at $120,000 after purchasing an additional 1,496 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Jackson Financial by 496.9% in the 2nd quarter. Raymond James & Associates now owns 278,071 shares of the company’s stock valued at $20,650,000 after purchasing an additional 231,489 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Jackson Financial during the 2nd quarter valued at $271,000. Friedenthal Financial bought a new stake in Jackson Financial during the 2nd quarter valued at $802,000. Finally, SG Americas Securities LLC raised its holdings in Jackson Financial by 371.3% during the 2nd quarter. SG Americas Securities LLC now owns 17,495 shares of the company’s stock valued at $1,299,000 after buying an additional 13,783 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 3.7 %

NYSE JXN traded up $3.13 during trading on Friday, hitting $87.16. The company had a trading volume of 736,396 shares, compared to its average volume of 762,752. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a one year low of $33.46 and a one year high of $89.81. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 2.30 and a beta of 1.51. The company’s fifty day moving average is $79.60 and its 200-day moving average is $70.69.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.34 earnings per share. On average, sell-side analysts predict that Jackson Financial Inc. will post 17.33 earnings per share for the current year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be paid a $0.70 dividend. The ex-dividend date is Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. Jackson Financial’s payout ratio is 7.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JXN. Evercore ISI lowered their price target on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Jefferies Financial Group upped their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Finally, Keefe, Bruyette & Woods upped their price objective 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. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.20.

Insider Buying and Selling

In other news, CFO Don W. Cummings acquired 1,445 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average cost of $72.70 per share, with a total value of $105,051.50. Following the transaction, the chief financial officer now owns 45,711 shares of the company’s stock, valued at approximately $3,323,189.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

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.