Jackson Financial Inc. (NYSE:JXN) Stock Position Reduced by Swiss National Bank

Swiss National Bank lessened its position in shares of Jackson Financial Inc. (NYSE:JXN) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,000 shares of the company’s stock after selling 1,700 shares during the period. Swiss National Bank’s holdings in Jackson Financial were worth $13,593,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cetera Investment Advisers bought a new position in Jackson Financial during the 1st quarter worth approximately $3,812,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Jackson Financial by 16.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after purchasing an additional 5,819 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Jackson Financial by 11.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock worth $7,073,000 after purchasing an additional 11,328 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Jackson Financial in the 3rd quarter worth approximately $897,000. Finally, Assetmark Inc. lifted its holdings in shares of Jackson Financial by 7.9% in the 3rd quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock worth $8,360,000 after purchasing an additional 6,724 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 3.1 %

Shares of Jackson Financial stock opened at $101.97 on Friday. Jackson Financial Inc. has a 1-year low of $45.61 and a 1-year high of $115.22. The company has a market capitalization of $7.53 billion, a P/E ratio of -7.82 and a beta of 1.48. The business’s fifty day moving average price is $97.66 and its two-hundred day moving average price is $85.40. 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 (NYSE:JXN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $3.80 EPS. As a group, research analysts forecast that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

Jackson Financial declared that its Board of Directors has initiated 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 repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently issued reports on JXN. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Morgan Stanley raised their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price target for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays lifted their target price on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their target price on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $84.00.

Insider Activity

In other 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 transaction, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. This trade represents a 8.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

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.