Verition Fund Management LLC Sells 572 Shares of Jackson Financial Inc. (NYSE:JXN)

Verition Fund Management LLC decreased its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,676 shares of the company’s stock after selling 572 shares during the quarter. Verition Fund Management LLC’s holdings in Jackson Financial were worth $609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new stake in Jackson Financial during the second quarter valued at $25,000. Blue Trust Inc. raised its stake in Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after purchasing an additional 260 shares in the last quarter. CWM LLC raised its stake in Jackson Financial by 80.5% during the second quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after purchasing an additional 457 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in Jackson Financial by 2,173.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,046 shares of the company’s stock valued at $78,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Jackson Financial by 1,267.8% during the second quarter. Fifth Third Bancorp now owns 1,614 shares of the company’s stock valued at $120,000 after purchasing an additional 1,496 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Down 4.7 %

JXN stock opened at $89.93 on Wednesday. The company has a market capitalization of $6.64 billion, a PE ratio of -7.11 and a beta of 1.42. Jackson Financial Inc. has a 12 month low of $47.49 and a 12 month high of $115.22. The firm’s 50-day moving average is $100.27 and its 200 day moving average is $87.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last posted its quarterly 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 company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $3.80 earnings per share. On average, research analysts anticipate that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s payout ratio is -22.15%.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. This represents a 8.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

JXN has been the topic of a number of recent research reports. Barclays upped their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Morgan Stanley increased their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and increased their target price for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $84.00.

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.