Jackson Financial Inc. (NYSE:JXN) Stock Position Lifted by Independent Advisor Alliance

Independent Advisor Alliance lifted its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,430 shares of the company’s stock after purchasing an additional 993 shares during the quarter. Independent Advisor Alliance’s holdings in Jackson Financial were worth $1,043,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of JXN. Asset Allocation Strategies LLC raised its position in shares of Jackson Financial by 0.6% during the 2nd quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock worth $1,405,000 after buying an additional 119 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in Jackson Financial by 1.4% in the third 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 lifted its position in Jackson Financial by 1.2% in the second quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after purchasing an additional 178 shares during the period. International Assets Investment Management LLC boosted its stake in 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. increased its position in shares of Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on JXN shares. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Morgan Stanley raised their price objective 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. 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 note on Thursday, November 14th. Finally, Barclays increased their target price 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. One investment 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 MarketBeat, Jackson Financial has a consensus rating of “Hold” and an average target price of $84.00.

Insider Transactions at Jackson Financial

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 completion of the sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. This trade represents a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Jackson Financial Price Performance

NYSE JXN opened at $102.40 on Wednesday. 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 $46.05 and a 1 year high of $115.22. The company has a market cap of $7.56 billion, a PE ratio of -8.10 and a beta of 1.48. The stock’s 50-day moving average price is $98.39 and its two-hundred day moving average price is $85.95.

Jackson Financial (NYSE:JXN) last released 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 firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company earned $3.80 EPS. On average, analysts predict that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial Announces Dividend

The firm also recently announced 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 of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.73%. Jackson Financial’s payout ratio is currently -22.15%.

Jackson Financial announced that its board has initiated a share repurchase program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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.