Forvis Mazars Wealth Advisors LLC Buys Shares of 2,328 Jackson Financial Inc. $JXN

Forvis Mazars Wealth Advisors LLC bought a new stake in Jackson Financial Inc. (NYSE:JXN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,328 shares of the company’s stock, valued at approximately $207,000.

Several other large investors also recently bought and sold shares of JXN. GAMMA Investing LLC grew its holdings in Jackson Financial by 18.6% in the first quarter. GAMMA Investing LLC now owns 2,108 shares of the company’s stock valued at $177,000 after purchasing an additional 330 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Jackson Financial by 13.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company’s stock valued at $388,000 after purchasing an additional 547 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Jackson Financial by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 53,433 shares of the company’s stock valued at $4,477,000 after purchasing an additional 2,726 shares during the last quarter. Advisor Resource Council purchased a new stake in shares of Jackson Financial in the first quarter valued at $339,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Jackson Financial by 1.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 102,318 shares of the company’s stock valued at $8,572,000 after acquiring an additional 991 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analysts Set New Price Targets

JXN has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Jefferies Financial Group upped 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. Evercore ISI upped their price objective on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Jackson Financial in a research report on Wednesday, October 8th. Finally, Barclays upped their price objective on Jackson Financial from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. 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 assigned a Sell rating to the company. According to MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus target price of $109.20.

Jackson Financial Stock Performance

NYSE JXN opened at $97.94 on Tuesday. The business’s 50-day moving average price is $98.26 and its 200 day moving average price is $88.41. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The company has a market capitalization of $6.82 billion, a PE ratio of -1,632.06 and a beta of 1.45. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46.

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

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were given a dividend of $0.80 per share. The ex-dividend date was Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.3%. Jackson Financial’s dividend payout ratio is -5,333.33%.

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

Jackson Financial Profile

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.