Harmony Asset Management LLC Purchases 3,116 Shares of Jackson Financial Inc. (NYSE:JXN)

Harmony Asset Management LLC increased its position in shares of Jackson Financial Inc. (NYSE:JXN) by 66.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,826 shares of the company’s stock after buying an additional 3,116 shares during the period. Harmony Asset Management LLC’s holdings in Jackson Financial were worth $581,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Jackson Financial by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock worth $332,035,000 after purchasing an additional 163,598 shares in the last quarter. Donald Smith & CO. Inc. raised its holdings in Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after buying an additional 397,287 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Jackson Financial by 6.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after buying an additional 111,875 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Jackson Financial by 6.5% during the second quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after buying an additional 98,792 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Jackson Financial by 146.3% during the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after acquiring an additional 724,148 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group lifted their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Evercore ISI decreased their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Morgan Stanley raised their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods boosted their price target 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. Finally, Barclays started coverage on shares of Jackson Financial in a research report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $80.00.

Jackson Financial Trading Down 2.0 %

Shares of JXN stock opened at $90.10 on Monday. Jackson Financial Inc. has a 1 year low of $35.27 and a 1 year high of $92.25. The company’s fifty day simple moving average is $84.13 and its two-hundred day simple moving average is $75.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 2.38 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company posted $3.34 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, analysts anticipate that Jackson Financial Inc. will post 18.49 earnings per share for the current year.

Jackson Financial declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio is 7.40%.

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.