Public Sector Pension Investment Board Boosts Stake in Jackson Financial Inc. (NYSE:JXN)

Public Sector Pension Investment Board lifted its position in shares of Jackson Financial Inc. (NYSE:JXN) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,611 shares of the company’s stock after acquiring an additional 10,300 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Jackson Financial worth $14,561,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Asset Allocation Strategies LLC boosted its stake in shares of Jackson Financial by 0.6% during the 2nd quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock worth $1,405,000 after acquiring an additional 119 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Jackson Financial by 1.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock worth $1,032,000 after acquiring an additional 159 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Jackson Financial by 1.2% during the 2nd quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after acquiring an additional 178 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Jackson Financial by 2.0% during the 2nd quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock worth $739,000 after acquiring an additional 199 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Jackson Financial by 232.1% in 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. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This trade represents a 8.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Jackson Financial Trading Down 2.2 %

JXN stock opened at $100.13 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 12 month low of $46.70 and a 12 month high of $115.22. The firm has a 50-day moving average of $99.14 and a two-hundred day moving average of $86.33.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $3.80 EPS. As a group, equities research analysts expect that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial announced that its board has authorized a stock buyback plan on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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 issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.80%. Jackson Financial’s dividend payout ratio is currently -22.15%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Barclays raised their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price target for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.00.

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.