First Trust Direct Indexing L.P. Cuts Stock Position in Jackson Financial Inc. (NYSE:JXN)

First Trust Direct Indexing L.P. reduced its stake in Jackson Financial Inc. (NYSE:JXN) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,479 shares of the company’s stock after selling 130 shares during the period. First Trust Direct Indexing L.P.’s holdings in Jackson Financial were worth $317,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Asset Allocation Strategies LLC grew its stake in Jackson Financial by 0.6% in the second quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock worth $1,405,000 after purchasing an additional 119 shares in the last quarter. Private Advisor Group LLC grew its position in Jackson Financial by 1.2% during the second quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock valued at $1,111,000 after buying an additional 178 shares during the period. International Assets Investment Management LLC increased its stake in shares of Jackson Financial by 2.0% in the 2nd quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock valued at $739,000 after purchasing an additional 199 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after buying an additional 260 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Jackson Financial by 3.0% in the second quarter. QRG Capital Management Inc. now owns 9,089 shares of the company’s stock valued at $675,000 after purchasing an additional 264 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Down 0.1 %

NYSE JXN opened at $98.20 on Tuesday. The company’s 50 day moving average price is $92.34 and its 200 day moving average price is $82.34. Jackson Financial Inc. has a one year low of $38.69 and a one year high of $104.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 3.63 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates 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 last year, the business earned $3.34 EPS. On average, sell-side analysts predict that Jackson Financial Inc. will post 18.78 EPS for the current year.

Jackson Financial declared that its board has authorized a share buyback program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.85%. Jackson Financial’s dividend payout ratio is presently 10.34%.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction dated 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 owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley increased their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods upped their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group increased 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. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company 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.