Mercer Global Advisors Inc. ADV Grows Position in Jackson Financial Inc. (NYSE:JXN)

Mercer Global Advisors Inc. ADV lifted its stake in Jackson Financial Inc. (NYSE:JXN) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,084 shares of the company’s stock after buying an additional 341 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Jackson Financial were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JXN. Asset Allocation Strategies LLC boosted its stake in shares of Jackson Financial by 0.6% in the second quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock worth $1,405,000 after acquiring an additional 119 shares during the period. GAMMA Investing LLC lifted its position in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Jackson Financial by 1.2% in the 2nd quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after buying an additional 178 shares in the last quarter. International Assets Investment Management LLC increased its stake in Jackson Financial by 2.0% during the second quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock worth $739,000 after acquiring an additional 199 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its position in Jackson Financial by 18.1% during the first quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock valued at $101,000 after purchasing an additional 235 shares during the period. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 0.7 %

Shares of NYSE JXN opened at $90.30 on Friday. Jackson Financial Inc. has a twelve month low of $35.27 and a twelve month high of $92.65. The firm has a market cap of $6.79 billion, a PE ratio of 2.39 and a beta of 1.50. The business has a fifty day simple moving average of $84.74 and a two-hundred day simple moving average of $75.86. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, topping 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 period last year, the company earned $3.34 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Analysts expect that Jackson Financial Inc. will post 18.49 earnings per share for the current fiscal year.

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

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.10%. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’s 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 sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

JXN has been the topic of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Barclays began coverage on shares of Jackson Financial in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 price objective on the stock. Evercore ISI reduced their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley boosted their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price 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.