Amalgamated Bank Sells 1,816 Shares of Jackson Financial Inc. (NYSE:JXN)

Amalgamated Bank trimmed its holdings in Jackson Financial Inc. (NYSE:JXN) by 8.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,997 shares of the company’s stock after selling 1,816 shares during the quarter. Amalgamated Bank’s holdings in Jackson Financial were worth $1,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its position in Jackson Financial by 3.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,084 shares of the company’s stock valued at $749,000 after acquiring an additional 341 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Jackson Financial by 467.0% in the second quarter. Axxcess Wealth Management LLC now owns 18,831 shares of the company’s stock valued at $1,398,000 after purchasing an additional 15,510 shares in the last quarter. Denali Advisors LLC increased its holdings in shares of Jackson Financial by 2.6% in the second quarter. Denali Advisors LLC now owns 93,600 shares of the company’s stock valued at $6,951,000 after purchasing an additional 2,400 shares in the last quarter. Edgestream Partners L.P. raised its position in Jackson Financial by 115.9% in the 2nd quarter. Edgestream Partners L.P. now owns 96,880 shares of the company’s stock worth $7,194,000 after purchasing an additional 52,013 shares during the last quarter. Finally, 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 in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Transactions at Jackson Financial

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 value of $502,205.00. Following the completion of the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Jackson Financial Stock Up 0.1 %

Jackson Financial stock opened at $89.70 on Thursday. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 2.37 and a beta of 1.50. The company’s 50 day simple moving average is $84.58 and its 200 day simple moving average is $75.76. 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 Inc. has a fifty-two week low of $35.27 and a fifty-two week high of $92.65.

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

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

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.12%. Jackson Financial’s dividend payout ratio (DPR) is currently 7.40%.

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.