Jackson Financial Inc. (NYSE:JXN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 5.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,523 shares of the company’s stock after selling 1,498 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Jackson Financial were worth $2,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hantz Financial Services Inc. purchased a new position in shares of Jackson Financial during the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after buying an additional 316 shares during the period. Blue Trust Inc. grew its stake in shares of Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after buying an additional 260 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Jackson Financial by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after buying an additional 293 shares during the period. Finally, Headlands Technologies LLC lifted its stake in Jackson Financial by 41.2% during the 1st quarter. Headlands Technologies LLC now owns 1,055 shares of the company’s stock worth $70,000 after acquiring an additional 308 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction that occurred on 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 in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Jackson Financial Stock Down 1.7 %

Shares of NYSE:JXN opened at $108.10 on Thursday. 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 Inc. has a fifty-two week low of $44.04 and a fifty-two week high of $115.22. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of -8.55 and a beta of 1.48. The firm’s 50 day moving average price is $95.43 and its 200 day moving average price is $84.24.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $3.80 earnings per share. As a group, equities research analysts predict that Jackson Financial Inc. will post 18.8 earnings per share for the current fiscal year.

Jackson Financial announced that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.59%. Jackson Financial’s dividend payout ratio is currently -22.15%.

Analyst Upgrades and Downgrades

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

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.