Jackson Financial Inc. (NYSE:JXN) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its position in Jackson Financial Inc. (NYSE:JXN) by 6.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,077,987 shares of the company’s stock after selling 79,484 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Jackson Financial were worth $98,345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased 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 during the last quarter. American Century Companies Inc. boosted its holdings in shares of Jackson Financial by 6.5% in the second quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after acquiring an additional 98,792 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Jackson Financial by 146.3% in the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after acquiring an additional 724,148 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock worth $95,874,000 after purchasing an additional 300,520 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Jackson Financial by 11.4% during the second quarter. Federated Hermes Inc. now owns 978,301 shares of the company’s stock worth $72,649,000 after purchasing an additional 99,992 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Transactions at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. This trade represents a 8.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JXN. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Morgan Stanley raised their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Barclays raised their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $84.00.

Jackson Financial Price Performance

Shares of Jackson Financial stock opened at $100.38 on Tuesday. Jackson Financial Inc. has a 12-month low of $46.96 and a 12-month high of $115.22. 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’s fifty day moving average is $99.54 and its 200-day moving average is $86.83.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business posted $3.80 EPS. Equities research analysts predict that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

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

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.70 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.80 annualized dividend and a yield of 2.79%. Jackson Financial’s dividend payout ratio (DPR) is -22.15%.

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.