Jackson Financial Inc. (NYSE:JXN) Stock Position Lifted by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 10.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,707 shares of the company’s stock after purchasing an additional 6,079 shares during the quarter. Cetera Investment Advisers owned about 0.08% of Jackson Financial worth $4,731,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. FORA Capital LLC increased its stake in Jackson Financial by 399.7% during the 1st quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock valued at $1,845,000 after buying an additional 22,312 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Jackson Financial by 32.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after acquiring an additional 14,848 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Jackson Financial by 16.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after purchasing an additional 5,819 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in Jackson Financial in the first quarter worth approximately $866,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Jackson Financial by 11.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock valued at $7,073,000 after purchasing an additional 11,328 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Trading Up 0.4 %

Shares of NYSE:JXN opened at $97.31 on Wednesday. Jackson Financial Inc. has a 12-month low of $36.06 and a 12-month high of $98.36. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.42 billion, a P/E ratio of 2.57 and a beta of 1.50. The firm has a fifty day moving average of $86.02 and a two-hundred day moving average of $77.79.

Jackson Financial (NYSE:JXN) last issued its 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 firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm earned $3.34 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued 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 2.88%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Jackson Financial declared that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Evercore ISI reduced their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Barclays boosted their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group raised 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.33.

Insider Activity at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the business’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 value of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.