Thrivent Financial for Lutherans Purchases 2,740 Shares of Jackson Financial Inc. (NYSE:JXN)

Thrivent Financial for Lutherans lifted its position in shares of Jackson Financial Inc. (NYSE:JXN) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,086 shares of the company’s stock after purchasing an additional 2,740 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Jackson Financial worth $5,390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JXN. Hantz Financial Services Inc. bought a new position in shares of Jackson Financial in the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased 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 valued at $27,000 after purchasing an additional 316 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after purchasing an additional 260 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Jackson Financial by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock worth $58,000 after buying an additional 293 shares during the last quarter. Finally, CWM LLC grew its position in Jackson Financial by 80.5% during the second 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 period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Carrie Chelko sold 5,500 shares of the business’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 transaction, the executive vice president now owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. The trade was a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Jackson Financial Stock Performance

Shares of JXN opened at $101.88 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 has a market capitalization of $7.53 billion, a price-to-earnings ratio of -8.06 and a beta of 1.48. Jackson Financial Inc. has a 52-week low of $45.61 and a 52-week high of $115.22. The stock’s 50-day simple moving average is $98.02 and its 200 day simple moving average is $85.60.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $3.80 EPS. Research analysts forecast that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

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

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 issued a $0.70 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.75%. Jackson Financial’s payout ratio is currently -22.15%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Jefferies Financial Group increased 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. Barclays boosted their target price on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley boosted their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.00.

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.