DekaBank Deutsche Girozentrale Sells 10,261 Shares of Jackson Financial Inc. (NYSE:JXN)

DekaBank Deutsche Girozentrale lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 8.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,791 shares of the company’s stock after selling 10,261 shares during the period. DekaBank Deutsche Girozentrale owned 0.14% of Jackson Financial worth $9,634,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in JXN. Hantz Financial Services Inc. purchased a new stake in Jackson Financial during the 2nd quarter worth about $25,000. Blue Trust Inc. lifted its holdings in shares of Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after buying an additional 260 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after acquiring an additional 316 shares during the period. GAMMA Investing LLC grew its stake in Jackson Financial by 60.8% during the second quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after acquiring an additional 293 shares in the last quarter. Finally, CWM LLC increased its holdings in Jackson Financial by 80.5% during the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock worth $76,000 after acquiring an additional 457 shares during the period. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Up 0.8 %

Shares of NYSE:JXN opened at $102.78 on Thursday. The firm has a market capitalization of $7.73 billion, a PE ratio of 3.80 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a 52-week low of $36.06 and a 52-week high of $104.05. The firm has a fifty day moving average of $91.16 and a 200 day moving average of $81.33.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Jackson Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.34 earnings per share. As a group, research analysts anticipate that Jackson Financial Inc. will post 18.78 EPS for the current fiscal year.

Jackson Financial announced that its board has authorized a stock repurchase program on Wednesday, August 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s payout ratio is currently 10.34%.

Insiders Place Their Bets

In other news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JXN. 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 report on Monday, July 29th. Keefe, Bruyette & Woods boosted 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. Barclays upped their target price on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $80.33.

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.