Charles Schwab Investment Management Inc. Acquires 300,520 Shares of Jackson Financial Inc. (NYSE:JXN)

Charles Schwab Investment Management Inc. raised its holdings in Jackson Financial Inc. (NYSE:JXN) by 40.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,050,903 shares of the company’s stock after buying an additional 300,520 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.40% of Jackson Financial worth $95,874,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Asset Allocation Strategies LLC boosted its holdings in Jackson Financial by 0.6% in the second quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock valued at $1,405,000 after acquiring an additional 119 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Jackson Financial by 1.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock worth $1,032,000 after purchasing an additional 159 shares during the period. Private Advisor Group LLC boosted its stake in shares of Jackson Financial by 1.2% during the 2nd quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock valued at $1,111,000 after purchasing an additional 178 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Jackson Financial by 2.0% during the 2nd quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock valued at $739,000 after purchasing an additional 199 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after buying an additional 260 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Down 0.8 %

JXN stock opened at $102.40 on Wednesday. The business has a 50 day moving average of $98.39 and a 200 day moving average of $85.95. The firm has a market cap of $7.56 billion, a PE ratio of -8.10 and a beta of 1.48. Jackson Financial Inc. has a twelve month low of $46.05 and a twelve month high of $115.22. 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 issued 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 during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the firm earned $3.80 EPS. On average, research analysts forecast that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial declared that its Board of Directors has initiated 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 purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.73%. Jackson Financial’s dividend payout ratio is presently -22.15%.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the transaction, the executive vice president now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

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

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.