Jackson Financial Inc. (NYSE:JXN) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 272,080 shares of the company’s stock after selling 5,991 shares during the period. Raymond James & Associates owned 0.36% of Jackson Financial worth $24,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JXN. PNC Financial Services Group Inc. increased its holdings in shares of Jackson Financial by 110.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the company’s stock valued at $110,000 after purchasing an additional 1,131 shares during the period. Quadrature Capital Ltd acquired a new position in Jackson Financial in the 4th quarter worth approximately $209,000. Hexagon Capital Partners LLC raised its position in Jackson Financial by 18.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock worth $101,000 after buying an additional 235 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new stake in Jackson Financial during the 1st quarter valued at approximately $205,000. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Jackson Financial in the 1st quarter valued at $66,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on JXN. Barclays raised 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, October 8th. Jefferies Financial Group lifted their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Morgan Stanley upped their target price 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. Finally, Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.33.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the company’s 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 completion of the transaction, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

NYSE:JXN opened at $99.47 on Friday. The stock has a market capitalization of $7.59 billion, a PE ratio of 2.63 and a beta of 1.50. Jackson Financial Inc. has a 52 week low of $36.06 and a 52 week high of $101.73. 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 stock’s 50-day moving average price is $90.38 and its 200-day moving average price is $80.37.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The business 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 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts expect that Jackson Financial Inc. will post 18.59 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently disclosed 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. This represents a $2.80 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s payout ratio is 7.40%.

Jackson Financial declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors 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.