Oppenheimer & Co. Inc. Grows Holdings in Jackson Financial Inc. (NYSE:JXN)

Oppenheimer & Co. Inc. grew its stake in Jackson Financial Inc. (NYSE:JXN) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,489 shares of the company’s stock after buying an additional 1,564 shares during the period. Oppenheimer & Co. Inc.’s holdings in Jackson Financial were worth $1,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of JXN. Hantz Financial Services Inc. purchased a new stake in shares of Jackson Financial in the 2nd quarter valued at $25,000. Blue Trust Inc. boosted its stake in shares of 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 purchasing an additional 260 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Jackson Financial by 400.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after purchasing an additional 316 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Jackson Financial by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after purchasing an additional 293 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Jackson Financial by 80.5% in the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after purchasing an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 0.2 %

Shares of JXN opened at $100.83 on Tuesday. The stock has a market capitalization of $7.59 billion, a P/E ratio of -8.03 and a beta of 1.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $96.14 and a two-hundred day simple moving average of $84.79. Jackson Financial Inc. has a twelve month low of $45.26 and a twelve month high of $115.22.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.07). The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business earned $3.80 EPS. On average, research analysts anticipate that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.70 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.80 annualized dividend and a yield of 2.78%. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

Jackson Financial declared that its Board of Directors has approved a stock buyback program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on JXN shares. Morgan Stanley upped 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 note on Monday, August 19th. Keefe, Bruyette & Woods upped 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 note on Wednesday, August 14th. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their price objective for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays increased their price target 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. Finally, Jefferies Financial Group increased their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.00.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were 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 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 the SEC website. Company 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.