Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Position in Jackson Financial Inc. (NYSE:JXN)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Jackson Financial Inc. (NYSE:JXN) by 55.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,000 shares of the company’s stock after selling 184,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.19% of Jackson Financial worth $10,916,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new position in Jackson Financial in the second quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its stake in shares of Jackson Financial by 400.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Jackson Financial during the 4th quarter worth approximately $57,000. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Jackson Financial during the 1st quarter worth approximately $66,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Stock Up 4.7 %

Shares of NYSE JXN opened at $96.55 on Friday. Jackson Financial Inc. has a 12-month low of $35.27 and a 12-month high of $96.85. The company has a market cap of $7.36 billion, a P/E ratio of 2.55 and a beta of 1.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $85.64 and a 200 day moving average price of $77.15.

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

Jackson Financial declared that its Board of Directors has initiated a share buyback program on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Jackson Financial Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.90%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Insider Activity at Jackson Financial

In other Jackson Financial 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 value of $502,205.00. Following the completion of the transaction, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

JXN has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Jackson Financial in a research note on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price objective for the company. Morgan Stanley raised their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Jefferies Financial Group raised their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. 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 research note on Wednesday, August 14th. Finally, Evercore ISI decreased their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 26th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.00.

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.