Bank of Montreal Can Has $2.57 Million Stock Position in Jackson Financial Inc. (NYSE:JXN)

Bank of Montreal Can grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 249.3% in the second quarter, Holdings Channel reports. The institutional investor owned 34,300 shares of the company’s stock after acquiring an additional 24,480 shares during the period. Bank of Montreal Can’s holdings in Jackson Financial were worth $2,570,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Asset Allocation Strategies LLC grew its holdings in shares of Jackson Financial by 0.6% during the second quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock valued at $1,405,000 after buying an additional 119 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Jackson Financial by 1.2% during the second quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after purchasing an additional 178 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Jackson Financial by 2.0% during the second quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock worth $739,000 after purchasing an additional 199 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Jackson Financial by 18.1% during the first quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock worth $101,000 after purchasing an additional 235 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Up 0.9 %

JXN opened at $92.32 on Friday. The company’s 50-day moving average price is $85.47 and its two-hundred day moving average price is $76.91. Jackson Financial Inc. has a twelve month low of $35.27 and a twelve month high of $93.00. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 2.44 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, beating 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. During the same period last year, the firm earned $3.34 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts expect that Jackson Financial Inc. will post 18.49 earnings per share for the current year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is currently 7.40%.

Jackson Financial announced that its board has authorized a share buyback program on Wednesday, August 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

JXN has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Barclays assumed coverage on shares of Jackson Financial in a report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price target on the stock. Evercore ISI dropped their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Jackson Financial presently has an average rating of “Hold” and an average price target of $80.00.

Insider Activity

In other news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Jackson Financial Company 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.