NBC Securities Inc. Lowers Holdings in Jackson Financial Inc. (NYSE:JXN)

NBC Securities Inc. reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 27.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 550 shares of the company’s stock after selling 209 shares during the quarter. NBC Securities Inc.’s holdings in Jackson Financial were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of JXN. Cetera Investment Advisers purchased a new position in Jackson Financial during the first quarter valued at $3,812,000. FORA Capital LLC lifted its position in shares of Jackson Financial by 399.7% in the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after buying an additional 22,312 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in 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 buying an additional 14,848 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Jackson Financial by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock valued at $2,714,000 after buying an additional 5,819 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in Jackson Financial in the 1st quarter worth approximately $866,000. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JXN shares. 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 report on Monday, August 19th. Evercore ISI reduced 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 report on Wednesday, June 26th. Jefferies Financial Group increased their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Barclays boosted their price objective on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, 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 note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $80.33.

Jackson Financial Stock Performance

Jackson Financial stock opened at $98.58 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $7.52 billion, a P/E ratio of 2.60 and a beta of 1.50. Jackson Financial Inc. has a 1-year low of $36.06 and a 1-year high of $101.73. The company’s 50-day moving average is $89.28 and its 200 day moving average is $79.67.

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 analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $3.34 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Jackson Financial Inc. will post 18.59 EPS for the current year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio is currently 7.40%.

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

Insider Activity

In related 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 completion of the sale, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

About Jackson Financial

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.