Oppenheimer Asset Management Inc. Cuts Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Oppenheimer Asset Management Inc. reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 21.3% during the third quarter, HoldingsChannel reports. The firm owned 3,226 shares of the company’s stock after selling 875 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Jackson Financial were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Jackson Financial by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after buying an additional 163,598 shares during the last quarter. American Century Companies Inc. increased its holdings in Jackson Financial by 6.5% during the second quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after buying an additional 98,792 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after acquiring an additional 724,148 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Jackson Financial by 6.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,106,063 shares of the company’s stock valued at $73,155,000 after purchasing an additional 66,534 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in Jackson Financial by 11.4% in the second quarter. Federated Hermes Inc. now owns 978,301 shares of the company’s stock worth $72,649,000 after buying an additional 99,992 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Down 0.9 %

JXN opened at $98.54 on Thursday. 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 50 day moving average price is $96.95 and its 200-day moving average price is $85.21. Jackson Financial Inc. has a one year low of $45.57 and a one year high of $115.22. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of -7.80 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.07). The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business earned $3.80 earnings per share. On average, equities analysts forecast that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s dividend payout ratio is presently -22.15%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on JXN shares. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays increased 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 boosted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of 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 upped their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average price target of $84.00.

Insider Activity at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the 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 of the company’s stock, valued at approximately $5,645,605.99. This represents a 8.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company 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.