Gladstone Institutional Advisory LLC Takes Position in Jackson Financial Inc. (NYSE:JXN)

Gladstone Institutional Advisory LLC acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 2,365 shares of the company’s stock, valued at approximately $216,000.

A number of other large investors have also recently made changes to their positions in JXN. First Trust Direct Indexing L.P. purchased a new position in shares of Jackson Financial during the 1st quarter valued at about $205,000. Janney Montgomery Scott LLC lifted its holdings in Jackson Financial by 23.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,848 shares of the company’s stock worth $2,834,000 after purchasing an additional 8,204 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Jackson Financial by 557.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,600 shares of the company’s stock worth $304,000 after purchasing an additional 3,900 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in Jackson Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 61,924 shares of the company’s stock worth $4,096,000 after purchasing an additional 810 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in Jackson Financial by 803.4% in the 1st quarter. LSV Asset Management now owns 17,164 shares of the company’s stock worth $1,135,000 after purchasing an additional 15,264 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JXN has been the topic of a number of research analyst reports. Barclays boosted their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective on 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, Jefferies Financial Group lifted their price objective on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note 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. Based on data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and a consensus target price of $80.33.

Jackson Financial Stock Performance

NYSE JXN opened at $100.41 on Wednesday. The company has a market cap of $7.55 billion, a P/E ratio of 3.71 and a beta of 1.48. 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 business’s 50 day moving average price is $92.62 and its 200-day moving average price is $82.59. Jackson Financial Inc. has a fifty-two week low of $38.69 and a fifty-two week high of $104.05.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, beating the consensus estimate of $4.32 by $1.00. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.71 billion. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.34 EPS. Sell-side analysts predict that Jackson Financial Inc. will post 18.78 earnings per share for the current year.

Jackson Financial declared that its Board of Directors has approved a stock buyback plan 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 plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the transaction, the executive vice president now 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 sale was disclosed in a legal filing 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.