Citigroup Inc. Grows Position in Jackson Financial Inc. (NYSE:JXN)

Citigroup Inc. boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 130.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,374 shares of the company’s stock after acquiring an additional 78,344 shares during the period. Citigroup Inc.’s holdings in Jackson Financial were worth $12,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock valued at $95,874,000 after purchasing an additional 300,520 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Jackson Financial by 1.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 130,137 shares of the company’s stock worth $11,872,000 after buying an additional 2,191 shares during the period. Intech Investment Management LLC bought a new stake in Jackson Financial during the 3rd quarter valued at $2,086,000. Caprock Group LLC purchased a new position in shares of Jackson Financial in the 3rd quarter valued at $369,000. Finally, Quest Partners LLC raised its position in shares of Jackson Financial by 61.5% in the 3rd quarter. Quest Partners LLC now owns 5,621 shares of the company’s stock worth $513,000 after acquiring an additional 2,140 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

JXN has been the topic of a number of recent research reports. Barclays raised 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 cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price target for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods boosted their price objective 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. Finally, Morgan Stanley raised their target price on shares of 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.00.

Jackson Financial Stock Performance

JXN opened at $100.13 on Friday. The firm’s 50-day moving average price is $99.14 and its 200-day moving average price is $86.33. The company has a market cap of $7.40 billion, a P/E ratio of -7.92 and a beta of 1.48. 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 Inc. has a 52-week low of $46.70 and a 52-week high of $115.22.

Jackson Financial (NYSE:JXN) last posted its quarterly 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 analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $3.80 earnings per share. As a group, equities analysts anticipate that Jackson Financial Inc. will post 18.8 EPS 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. Shareholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a yield of 2.80%. Jackson Financial’s dividend payout ratio is currently -22.15%.

Jackson Financial announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to purchase up to 10.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial 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 owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The trade was a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

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.