Algert Global LLC Has $2.43 Million Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Algert Global LLC decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 41.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,657 shares of the company’s stock after selling 23,523 shares during the quarter. Algert Global LLC’s holdings in Jackson Financial were worth $2,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in shares of Jackson Financial during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC raised its position in shares of 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 buying an additional 316 shares during the last quarter. GAMMA Investing LLC raised its holdings in Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after acquiring an additional 154 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Jackson Financial during the 1st quarter worth approximately $66,000. Finally, CWM LLC raised its stake in shares of Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after purchasing an additional 457 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on JXN. Barclays began coverage on shares of Jackson Financial in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 price target for the company. Morgan Stanley lifted their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Evercore ISI cut their price target on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average target price of $80.00.

Jackson Financial Trading Down 1.1 %

JXN opened at $90.25 on Wednesday. Jackson Financial Inc. has a fifty-two week low of $35.27 and a fifty-two week high of $92.65. The firm has a 50 day simple moving average of $85.07 and a 200 day simple moving average of $76.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 2.41 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $3.34 earnings per share. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 18.49 earnings per share for the current year.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.10%. Jackson Financial’s dividend payout ratio is presently 7.40%.

Jackson Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Carrie Chelko sold 5,500 shares of the business’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 completion of the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.