Jackson Financial Inc. (NYSE:JXN) Shares Acquired by Quest Partners LLC

Quest Partners LLC increased its position in shares of Jackson Financial Inc. (NYSE:JXN) by 61.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,621 shares of the company’s stock after acquiring an additional 2,140 shares during the period. Quest Partners LLC’s holdings in Jackson Financial were worth $513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JXN. Hantz Financial Services Inc. acquired a new position in shares of Jackson Financial in the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its position in Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after buying an additional 316 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after buying an additional 260 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Jackson Financial by 60.8% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after acquiring an additional 293 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Jackson Financial by 80.5% in the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock worth $76,000 after acquiring an additional 457 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on JXN shares. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Barclays upped their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Jefferies Financial Group lifted their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Evercore ISI cut 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.00.

Jackson Financial Price Performance

NYSE JXN opened at $101.88 on Friday. The company has a 50 day simple moving average of $98.02 and a 200-day simple moving average of $85.60. Jackson Financial Inc. has a 52-week low of $45.61 and a 52-week high of $115.22. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of -8.06 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The business 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 earnings per share. Equities research analysts predict that Jackson Financial Inc. will post 18.8 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

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 paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

Jackson Financial declared that its board has authorized a share repurchase plan on Wednesday, August 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’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 transaction, the executive vice president now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

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.