Crossmark Global Holdings Inc. Acquires 543 Shares of Jackson Financial Inc. (NYSE:JXN)

Crossmark Global Holdings Inc. boosted its holdings in Jackson Financial Inc. (NYSE:JXN) by 11.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,404 shares of the company’s stock after purchasing an additional 543 shares during the period. Crossmark Global Holdings Inc.’s holdings in Jackson Financial were worth $493,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Colonial River Investments LLC lifted its stake in Jackson Financial by 14.6% in the third quarter. Colonial River Investments LLC now owns 17,855 shares of the company’s stock worth $1,629,000 after purchasing an additional 2,273 shares during the last quarter. Atria Investments Inc lifted its stake in Jackson Financial by 35.7% in the third quarter. Atria Investments Inc now owns 5,446 shares of the company’s stock worth $497,000 after purchasing an additional 1,433 shares during the last quarter. Assetmark Inc. lifted its stake in Jackson Financial by 7.9% in the third 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. CWA Asset Management Group LLC bought a new stake in Jackson Financial in the third quarter worth $897,000. Finally, Easterly Investment Partners LLC lifted its stake in Jackson Financial by 15.3% in the third quarter. Easterly Investment Partners LLC now owns 136,306 shares of the company’s stock worth $12,435,000 after purchasing an additional 18,039 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Barclays boosted their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley boosted their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $74.00 to $95.00 in a research report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.00.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $100.63 on Friday. Jackson Financial Inc. has a 1 year low of $44.40 and a 1 year high of $115.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company’s 50-day moving average is $96.14 and its 200 day moving average is $84.56. The stock has a market capitalization of $7.57 billion, a P/E ratio of -7.96 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last announced 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 company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $3.80 EPS. On average, sell-side analysts expect that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 2.78%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio is currently -22.15%.

Jackson Financial announced that its Board of Directors has authorized a share buyback program on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the sale, the executive vice president now owns 61,829 shares in the company, valued at approximately $5,645,605.99. This represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

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.