Jackson Financial Inc. (NYSE:JXN) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lessened its position in shares of Jackson Financial Inc. (NYSE:JXN) by 48.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,915 shares of the company’s stock after selling 8,242 shares during the quarter. Marshall Wace LLP’s holdings in Jackson Financial were worth $662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hantz Financial Services Inc. acquired a new position in Jackson Financial during the second quarter worth about $25,000. EverSource Wealth Advisors LLC raised its position in shares of Jackson Financial by 400.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the last quarter. GAMMA Investing LLC lifted its stake in Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after buying an additional 154 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in Jackson Financial during the 1st quarter valued at $66,000. Finally, CWM LLC grew its holdings in Jackson Financial by 80.5% during the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after buying an additional 457 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JXN shares. Morgan Stanley upped their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Evercore ISI cut 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. Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Finally, Barclays boosted their price target on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and an average target price of $80.33.

Jackson Financial Stock Up 0.4 %

Shares of NYSE JXN opened at $97.31 on Wednesday. The stock has a market capitalization of $7.42 billion, a PE ratio of 2.57 and a beta of 1.50. 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 firm has a fifty day moving average of $86.02 and a 200-day moving average of $77.79. Jackson Financial Inc. has a 52-week low of $36.06 and a 52-week high of $98.36.

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 analysts’ consensus estimates of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Jackson Financial’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $3.34 EPS. On average, analysts anticipate that Jackson Financial Inc. will post 18.49 EPS for the current year.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

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

Insider Activity at Jackson Financial

In other Jackson Financial 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 transaction of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

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.