Intech Investment Management LLC Invests $2.09 Million in Jackson Financial Inc. (NYSE:JXN)

Intech Investment Management LLC purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 22,869 shares of the company’s stock, valued at approximately $2,086,000.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Jackson Financial by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock worth $332,035,000 after buying an additional 163,598 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 worth $120,529,000 after purchasing an additional 98,792 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Jackson Financial by 146.3% during the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after purchasing an additional 724,148 shares during the period. Federated Hermes Inc. lifted its position in shares of Jackson Financial by 11.4% in the 2nd quarter. Federated Hermes Inc. now owns 978,301 shares of the company’s stock worth $72,649,000 after buying an additional 99,992 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Jackson Financial by 9,363.9% in the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock valued at $85,942,000 after buying an additional 932,085 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Jackson Financial

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on JXN shares. Morgan Stanley increased their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Barclays increased their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods raised their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial has an average rating of “Hold” and an average target price of $84.00.

Jackson Financial Stock Performance

Shares of NYSE JXN opened at $101.88 on Monday. Jackson Financial Inc. has a 12-month low of $45.61 and a 12-month high of $115.22. The company has a market cap of $7.53 billion, a PE ratio of -8.06 and a beta of 1.48. The stock has a 50 day simple moving average of $98.02 and a 200-day simple moving average of $85.69. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $3.80 EPS. On average, equities research analysts forecast that Jackson Financial Inc. will post 18.8 EPS for the current 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 reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given 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 yield of 2.75%. Jackson Financial’s dividend payout ratio is presently -22.15%.

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.