The Manufacturers Life Insurance Company Sells 1,408 Shares of Jackson Financial Inc. (NYSE:JXN)

The Manufacturers Life Insurance Company lessened its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,628 shares of the company’s stock after selling 1,408 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Jackson Financial worth $3,314,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Hantz Financial Services Inc. acquired a new stake in Jackson Financial in the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position 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 valued at $27,000 after purchasing an additional 316 shares during the period. GAMMA Investing LLC lifted its stake in shares of Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Jackson Financial during the 1st quarter worth $66,000. Finally, CWM LLC grew its stake in Jackson Financial by 80.5% in the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after buying an additional 457 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Transactions at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

JXN has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Morgan Stanley increased their target price on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods lifted their price target 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. Barclays upped their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Evercore ISI lowered their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $80.33.

Jackson Financial Trading Up 0.4 %

Shares of JXN opened at $97.31 on Wednesday. The stock’s 50-day moving average price is $86.02 and its 200 day moving average price is $77.79. 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 price-to-earnings ratio of 2.57 and a beta of 1.50. Jackson Financial Inc. has a 12-month low of $36.06 and a 12-month high of $98.36.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.71 billion. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.34 earnings per share. As a group, research analysts predict that Jackson Financial Inc. will post 18.49 earnings per share for the current year.

Jackson Financial announced that its board has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s dividend payout ratio is 7.40%.

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.