Private Advisor Group LLC Increases Stake in Jackson Financial Inc. (NYSE:JXN)

Private Advisor Group LLC increased its position in shares of Jackson Financial Inc. (NYSE:JXN) by 10.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,537 shares of the company’s stock after buying an additional 1,575 shares during the period. Private Advisor Group LLC’s holdings in Jackson Financial were worth $1,509,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Jackson Financial during the third quarter valued at $244,000. Blue Trust Inc. boosted its position in Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after purchasing an additional 260 shares in the last quarter. Creative Planning boosted its position in Jackson Financial by 10.2% during the third quarter. Creative Planning now owns 4,041 shares of the company’s stock valued at $369,000 after purchasing an additional 373 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Jackson Financial during the third quarter valued at about $40,795,000. Finally, MorganRosel Wealth Management LLC bought a new stake in Jackson Financial during the third quarter valued at about $1,531,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $102.78 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $7.73 billion, a PE ratio of 3.79 and a beta of 1.50. The business has a 50-day simple moving average of $91.16 and a two-hundred day simple moving average of $81.33. Jackson Financial Inc. has a fifty-two week low of $36.06 and a fifty-two week high of $104.05.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, topping the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the business posted $3.34 EPS. Jackson Financial’s revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts expect that Jackson Financial Inc. will post 18.78 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is 10.34%.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on JXN. Keefe, Bruyette & Woods raised their price objective 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. Barclays raised their price objective on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley raised their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group raised their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and an average target price of $80.33.

Insider Buying and Selling

In related news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now 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 document filed with the SEC, which is available through this hyperlink. Corporate 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.