Jackson Financial Inc. (NYSE:JXN) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in Jackson Financial Inc. (NYSE:JXN) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,137 shares of the company’s stock after purchasing an additional 2,191 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Jackson Financial were worth $11,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of JXN. Public Employees Retirement System of Ohio lifted its stake in shares of Jackson Financial by 5.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 48,241 shares of the company’s stock valued at $3,191,000 after purchasing an additional 2,436 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Jackson Financial by 16.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock valued at $2,714,000 after purchasing an additional 5,819 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Jackson Financial in the 1st quarter valued at $3,812,000. Cetera Advisors LLC lifted its stake in shares of Jackson Financial by 11.7% in the 1st quarter. Cetera Advisors LLC now owns 5,503 shares of the company’s stock valued at $364,000 after purchasing an additional 576 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. acquired a new position in shares of Jackson Financial in the 1st quarter valued at $2,480,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. This trade represents a 8.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Jackson Financial Trading Down 0.8 %

JXN opened at $102.40 on Wednesday. The company has a market cap of $7.56 billion, a P/E ratio of -8.10 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a one year low of $46.05 and a one year high of $115.22. The business’s 50-day simple moving average is $98.39 and its 200-day simple moving average is $85.95.

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

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

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. Jackson Financial’s payout ratio is -22.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on JXN shares. Barclays upped their price target on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their target price 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. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods increased their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $84.00.

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.