Thrivent Financial for Lutherans Has $4.18 Million Stake in Jackson Financial Inc. (NYSE:JXN)

Thrivent Financial for Lutherans reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,346 shares of the company’s stock after selling 5,035 shares during the period. Thrivent Financial for Lutherans owned 0.07% of Jackson Financial worth $4,184,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Cetera Investment Advisers bought a new stake in Jackson Financial in the first quarter worth approximately $3,812,000. FORA Capital LLC boosted its holdings in Jackson Financial by 399.7% during the 1st quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after acquiring an additional 22,312 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Jackson Financial by 32.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock worth $4,044,000 after acquiring an additional 14,848 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Jackson Financial by 16.5% in the first 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. Finally, UniSuper Management Pty Ltd bought a new position in shares of Jackson Financial during the first quarter valued at about $866,000. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Up 1.1 %

JXN stock opened at $91.35 on Friday. The stock has a market capitalization of $6.87 billion, a P/E ratio of 2.41 and a beta of 1.50. Jackson Financial Inc. has a 1-year low of $35.27 and a 1-year high of $92.65. 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 business has a fifty day moving average price of $84.93 and a 200-day moving average price of $76.08.

Jackson Financial (NYSE:JXN) last announced its 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 company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Jackson Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.34 EPS. Equities analysts forecast that Jackson Financial Inc. will post 18.49 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is currently 7.40%.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, EVP Carrie Chelko sold 5,500 shares of the company’s 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 transaction, 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 available at this link. 1.30% of the stock is owned by insiders.

About Jackson Financial

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.