Victory Capital Management Inc. Has $13.77 Million Stock Position in Jackson Financial Inc. (NYSE:JXN)

Victory Capital Management Inc. cut its holdings in Jackson Financial Inc. (NYSE:JXN) by 28.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 150,878 shares of the company’s stock after selling 60,260 shares during the quarter. Victory Capital Management Inc.’s holdings in Jackson Financial were worth $13,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of JXN. Dimensional Fund Advisors LP increased its stake in shares of Jackson Financial by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after acquiring an additional 163,598 shares in the last quarter. American Century Companies Inc. increased its stake in Jackson Financial by 6.5% in the second quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after purchasing an additional 98,792 shares in the last quarter. Acadian Asset Management LLC increased its stake in Jackson Financial by 146.3% in the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after purchasing an additional 724,148 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Jackson Financial by 6.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,106,063 shares of the company’s stock valued at $73,155,000 after purchasing an additional 66,534 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Jackson Financial by 11.4% during the 2nd quarter. Federated Hermes Inc. now owns 978,301 shares of the company’s stock worth $72,649,000 after purchasing an additional 99,992 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction 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 sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. This trade represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on JXN shares. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Keefe, Bruyette & Woods boosted their price objective on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Barclays increased their target price on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Jefferies Financial Group boosted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Morgan Stanley upped their price objective 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. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Jackson Financial has an average rating of “Hold” and a consensus price target of $84.00.

Jackson Financial Trading Down 1.4 %

NYSE JXN opened at $99.46 on Wednesday. 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 business has a fifty day simple moving average of $96.54 and a 200 day simple moving average of $85.01. Jackson Financial Inc. has a 12 month low of $45.26 and a 12 month high of $115.22. The firm has a market capitalization of $7.35 billion, a P/E ratio of -7.87 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, November 6th. The company reported $4.60 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 the consensus estimate of $1.73 billion. During the same period in the prior year, the company posted $3.80 EPS. On average, analysts predict that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.82%. Jackson Financial’s payout ratio is presently -22.15%.

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.