Harbor Capital Advisors Inc. Invests $141,000 in Jackson Financial Inc. (NYSE:JXN)

Harbor Capital Advisors Inc. acquired a new stake in Jackson Financial Inc. (NYSE:JXN) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,551 shares of the company’s stock, valued at approximately $141,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new stake in shares of Jackson Financial in the 1st quarter valued at about $3,812,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Jackson Financial by 32.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock worth $4,044,000 after buying an additional 14,848 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Jackson Financial by 16.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after buying an additional 5,819 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Jackson Financial during the first quarter worth about $866,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Jackson Financial by 11.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock worth $7,073,000 after buying an additional 11,328 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Jackson Financial 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 transaction of $502,205.00. Following the transaction, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Jackson Financial Stock Performance

JXN opened at $110.99 on Friday. Jackson Financial Inc. has a 12-month low of $38.69 and a 12-month high of $115.09. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 4.10 and a beta of 1.48. The business has a 50 day moving average of $93.64 and a 200-day moving average of $83.00. 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 (NYSE:JXN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing the consensus estimate of $4.66 by ($0.06). The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $3.80 earnings per share. On average, equities research analysts expect that Jackson Financial Inc. will post 18.78 earnings per share for the current year.

Jackson Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 annualized dividend and a yield of 2.52%. Jackson Financial’s payout ratio is currently 10.34%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays increased their price objective on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley increased their price target 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 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. Finally, Keefe, Bruyette & Woods increased 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and an average target price of $80.33.

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.