Algert Global LLC Sells 22,070 Shares of Jackson Financial Inc. (NYSE:JXN)

Algert Global LLC decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 67.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,587 shares of the company’s stock after selling 22,070 shares during the quarter. Algert Global LLC’s holdings in Jackson Financial were worth $966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in shares of Jackson Financial during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after acquiring an additional 316 shares during the period. Blue Trust Inc. raised its holdings in Jackson Financial by 232.1% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after acquiring an additional 260 shares in the last quarter. GAMMA Investing LLC lifted its position 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 acquiring an additional 293 shares during the period. Finally, CWM LLC grew its holdings in shares of Jackson Financial by 80.5% during the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock worth $76,000 after purchasing an additional 457 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on JXN shares. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Morgan Stanley raised their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. Finally, Barclays raised their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.00.

Insider Buying and Selling

In other news, EVP Carrie Chelko sold 5,500 shares of the company’s 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 $5,645,605.99. This represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Price Performance

Shares of Jackson Financial stock opened at $100.19 on Friday. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of -7.93 and a beta of 1.48. The firm’s 50-day moving average price is $99.34 and its two-hundred day moving average price is $86.51. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 1-year low of $46.86 and a 1-year high of $115.22.

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

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.79%. Jackson Financial’s dividend payout ratio is -22.15%.

Jackson Financial declared that its Board of Directors has initiated a share buyback program 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 programs are typically an indication that the company’s management believes its shares are undervalued.

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.