Cornercap Investment Counsel Inc. Invests $580,000 in Jackson Financial Inc. (NYSE:JXN)

Cornercap Investment Counsel Inc. acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,809 shares of the company’s stock, valued at approximately $580,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JXN. Hantz Financial Services Inc. purchased a new stake in Jackson Financial during the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares during the period. GAMMA Investing LLC increased its position in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after acquiring an additional 154 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Jackson Financial in the fourth quarter valued at about $57,000. Finally, Valued Wealth Advisors LLC bought a new position in Jackson Financial in the first quarter valued at about $66,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on JXN. Jefferies Financial Group boosted 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. Morgan Stanley upped their target price 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. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Barclays began coverage on Jackson Financial in a research report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price objective on the stock. Finally, Evercore ISI decreased 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $80.00.

Jackson Financial Price Performance

Shares of Jackson Financial stock opened at $83.57 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 52 week low of $35.27 and a 52 week high of $90.10. The stock’s 50-day simple moving average is $82.91 and its 200-day simple moving average is $73.82. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 2.21 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 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm posted $3.34 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts expect that Jackson Financial Inc. will post 18.49 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.35%. 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.