Canada Pension Plan Investment Board Has $13.14 Million Stake in Jackson Financial Inc. (NYSE:JXN)

Canada Pension Plan Investment Board lowered its stake in Jackson Financial Inc. (NYSE:JXN) by 38.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,000 shares of the company’s stock after selling 109,000 shares during the period. Canada Pension Plan Investment Board owned approximately 0.23% of Jackson Financial worth $13,144,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in Jackson Financial in the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of 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. GAMMA Investing LLC boosted its holdings in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after buying an additional 154 shares during the period. Valued Wealth Advisors LLC acquired a new position in Jackson Financial in the 1st quarter valued at $66,000. Finally, CWM LLC raised its holdings in 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 period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analysts Set New Price Targets

JXN has been the subject of a number of recent analyst reports. Barclays initiated coverage on shares of Jackson Financial in a report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price target for the company. 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 report on Wednesday, August 14th. Jefferies Financial Group upped their price target on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. 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 research note on Monday, August 19th. Finally, Evercore ISI dropped their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 26th. Five research analysts have rated the stock with 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 an average target price of $80.00.

Jackson Financial Price Performance

Shares of JXN stock opened at $90.55 on Tuesday. Jackson Financial Inc. has a 12 month low of $35.27 and a 12 month high of $92.65. The company has a market capitalization of $6.91 billion, a P/E ratio of 2.39 and a beta of 1.50. The stock has a 50 day moving average of $84.31 and a two-hundred day moving average of $75.45. 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 (NYSE:JXN) last issued its earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $3.34 earnings per share. As a group, equities analysts expect that Jackson Financial Inc. will post 18.49 EPS for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were paid a $0.70 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. Jackson Financial’s payout ratio is currently 7.40%.

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

Insider Buying and Selling

In other 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 sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.