Jackson Financial Inc. (NYSE:JXN) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its position in Jackson Financial Inc. (NYSE:JXN) by 2.5% in the 3rd quarter, Holdings Channel reports. The fund owned 8,865 shares of the company’s stock after selling 224 shares during the period. QRG Capital Management Inc.’s holdings in Jackson Financial were worth $809,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Jackson Financial by 9,363.9% during the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock valued at $85,942,000 after acquiring an additional 932,085 shares in the last quarter. Acadian Asset Management LLC lifted its position in Jackson Financial by 146.3% during the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after buying an additional 724,148 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Jackson Financial during the third quarter valued at approximately $40,795,000. LSV Asset Management lifted its position in Jackson Financial by 2,459.7% during the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after buying an additional 422,175 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its stake in shares of Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after purchasing an additional 397,287 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

JXN has been the subject of a number of research analyst reports. 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 note on Monday, August 19th. Barclays boosted their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. 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 report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and a consensus price target of $80.33.

Jackson Financial Stock Down 2.4 %

Shares of Jackson Financial stock opened at $108.29 on Friday. The stock has a 50 day moving average price of $94.01 and a two-hundred day moving average price of $83.39. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $8.15 billion, a P/E ratio of -8.57 and a beta of 1.48. Jackson Financial Inc. has a 12-month low of $41.61 and a 12-month high of $115.09.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.66 by ($0.06). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business posted $3.80 EPS. Equities analysts expect that Jackson Financial Inc. will post 18.78 earnings per share for the current year.

Jackson Financial Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio (DPR) is currently -22.15%.

Jackson Financial announced that its board has approved a share buyback program on Wednesday, August 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Jackson Financial Company 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.