Public Sector Pension Investment Board Buys 4,279 Shares of Jackson Financial Inc. (NYSE:JXN)

Public Sector Pension Investment Board boosted its position in shares of Jackson Financial Inc. (NYSE:JXN) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,311 shares of the company’s stock after acquiring an additional 4,279 shares during the period. Public Sector Pension Investment Board owned approximately 0.20% of Jackson Financial worth $11,088,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in JXN. Hantz Financial Services Inc. bought a new stake in shares of Jackson Financial during the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in Jackson Financial by 400.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after buying an additional 316 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Jackson Financial during the 1st quarter valued at about $66,000. Finally, CWM LLC increased its stake in Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after acquiring an additional 457 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on JXN shares. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group lifted their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Barclays started coverage on shares of Jackson Financial in a research report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 target price for the company. Morgan Stanley boosted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Evercore ISI cut their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.00.

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 completion of the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Jackson Financial Price Performance

Shares of JXN stock opened at $90.55 on Tuesday. 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 firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 2.39 and a beta of 1.50. The firm’s 50 day moving average is $84.31 and its 200-day moving average is $75.45. Jackson Financial Inc. has a 1 year low of $35.27 and a 1 year high of $92.65.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business earned $3.34 EPS. Jackson Financial’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s payout ratio is 7.40%.

Jackson Financial declared that its Board of Directors has initiated a share buyback program on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.