Entropy Technologies LP Cuts Holdings in Jackson Financial Inc. (NYSE:JXN)

Entropy Technologies LP reduced its position in shares of Jackson Financial Inc. (NYSE:JXN) by 72.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the company’s stock after selling 10,681 shares during the quarter. Entropy Technologies LP’s holdings in Jackson Financial were worth $365,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of JXN. Dimensional Fund Advisors LP raised its holdings in Jackson Financial by 3.8% in 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 period. Donald Smith & CO. Inc. lifted its position in shares of Jackson Financial by 20.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after buying an additional 397,287 shares in the last quarter. American Century Companies Inc. grew its stake in Jackson Financial by 6.5% in the 2nd 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 increased its holdings in Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after acquiring an additional 724,148 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Jackson Financial by 6.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,106,063 shares of the company’s stock worth $73,155,000 after acquiring an additional 66,534 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on JXN shares. Keefe, Bruyette & Woods boosted 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 note on Wednesday, August 14th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $74.00 to $95.00 in a research note on Thursday. Barclays raised their target price on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their price target 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. Finally, Jefferies Financial Group raised their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Jackson Financial has an average rating of “Hold” and a consensus target price of $84.00.

Insider Activity at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Jackson Financial Stock Performance

NYSE JXN opened at $100.63 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s fifty day moving average is $95.75 and its two-hundred day moving average is $84.35. The firm has a market capitalization of $7.57 billion, a P/E ratio of -7.96 and a beta of 1.48. Jackson Financial Inc. has a fifty-two week low of $44.40 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm posted $3.80 earnings per share. On average, research analysts anticipate that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s payout ratio is presently -22.15%.

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

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.