Jackson Financial Inc. (NYSE:JXN) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its holdings in Jackson Financial Inc. (NYSE:JXN) by 2.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 272,080 shares of the company’s stock after selling 5,991 shares during the period. Raymond James & Associates’ holdings in Jackson Financial were worth $24,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of JXN. Cetera Investment Advisers acquired a new position in Jackson Financial during the first quarter worth $3,812,000. FORA Capital LLC grew its holdings in shares of Jackson Financial by 399.7% in the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock valued at $1,845,000 after purchasing an additional 22,312 shares during the period. O Shaughnessy Asset Management LLC increased its position in Jackson Financial by 32.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock worth $4,044,000 after purchasing an additional 14,848 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Jackson Financial by 16.5% during the first 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. Finally, UniSuper Management Pty Ltd purchased a new position in Jackson Financial during the first quarter worth about $866,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Jackson Financial

In related 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 value of $502,205.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Jackson Financial Trading Up 1.8 %

Shares of NYSE JXN opened at $99.47 on Friday. The stock has a fifty day simple moving average of $90.38 and a 200-day simple moving average of $80.37. Jackson Financial Inc. has a twelve month low of $36.06 and a twelve month high of $101.73. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $7.59 billion, a PE ratio of 2.63 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company earned $3.34 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts forecast that Jackson Financial Inc. will post 18.59 earnings per share for the current year.

Jackson Financial declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were paid a $0.70 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.81%. Jackson Financial’s dividend payout ratio (DPR) is 7.40%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JXN shares. Keefe, Bruyette & Woods raised their price target 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. Morgan Stanley raised their target price on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Jefferies Financial Group upped their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Barclays raised their price objective on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial currently has a consensus 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.