Quantbot Technologies LP Takes Position in Jackson Financial Inc. (NYSE:JXN)

Quantbot Technologies LP bought a new stake in Jackson Financial Inc. (NYSE:JXN) during the 1st quarter, Holdings Channel reports. The institutional investor bought 38,249 shares of the company’s stock, valued at approximately $2,530,000.

Other large investors also recently bought and sold shares of the company. Public Sector Pension Investment Board acquired a new stake in Jackson Financial during the third quarter valued at approximately $3,444,000. American Century Companies Inc. boosted its stake in Jackson Financial by 11.9% in the 3rd quarter. American Century Companies Inc. now owns 961,875 shares of the company’s stock worth $36,763,000 after purchasing an additional 102,671 shares during the period. Hudson Bay Capital Management LP acquired a new position in shares of Jackson Financial during the 3rd quarter worth approximately $7,644,000. Teachers Retirement System of The State of Kentucky bought a new position in Jackson Financial during the third quarter worth $871,000. Finally, Vanguard Group Inc. increased its position in Jackson Financial by 16.1% during the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after acquiring an additional 1,518,547 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on JXN. Keefe, Bruyette & Woods cut shares of Jackson Financial from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $75.00 to $80.00 in a report on Tuesday, May 14th. Evercore ISI reduced their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Jefferies Financial Group increased their price target on Jackson Financial from $62.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Finally, Morgan Stanley raised their price target on Jackson Financial from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $70.80.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.67, for a total transaction of $983,710.00. Following the transaction, the chief operating officer now owns 93,405 shares in the company, valued at approximately $7,067,956.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Devkumar Dilip Ganguly sold 13,000 shares of Jackson Financial stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.67, for a total value of $983,710.00. Following the completion of the sale, the chief operating officer now directly owns 93,405 shares in the company, valued at $7,067,956.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Don W. Cummings purchased 1,445 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were bought at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the purchase, the chief financial officer now directly owns 45,711 shares in the company, valued at approximately $3,323,189.70. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

Shares of NYSE:JXN traded up $0.18 during trading on Friday, reaching $77.87. The stock had a trading volume of 518,211 shares, compared to its average volume of 749,377. The stock has a market capitalization of $5.94 billion, a PE ratio of 2.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. Jackson Financial Inc. has a 52 week low of $31.40 and a 52 week high of $81.52. The business’s 50-day moving average price is $74.63 and its 200 day moving average price is $63.49.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm posted $3.15 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Jackson Financial Inc. will post 17.33 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.60%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s dividend payout ratio (DPR) is 7.40%.

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.