Pathstone Holdings LLC Decreases Position in Jackson Financial Inc. (NYSE:JXN)

Pathstone Holdings LLC decreased its stake in Jackson Financial Inc. (NYSE:JXN) by 26.6% in the third quarter, Holdings Channel.com reports. The firm owned 18,542 shares of the company’s stock after selling 6,720 shares during the period. Pathstone Holdings LLC’s holdings in Jackson Financial were worth $1,692,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of JXN. Dimensional Fund Advisors LP boosted its stake in Jackson Financial by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock worth $332,035,000 after buying an additional 163,598 shares during the period. American Century Companies Inc. boosted its stake in shares of Jackson Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock worth $120,529,000 after purchasing an additional 98,792 shares during the period. Acadian Asset Management LLC grew its holdings in Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after purchasing an additional 724,148 shares during the last quarter. Federated Hermes Inc. raised its position in Jackson Financial by 11.4% in the 2nd quarter. Federated Hermes Inc. now owns 978,301 shares of the company’s stock worth $72,649,000 after purchasing an additional 99,992 shares during the period. Finally, International Assets Investment Management LLC raised its position in Jackson Financial by 9,363.9% in the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after purchasing an additional 932,085 shares during the period. Institutional investors own 89.96% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Keefe, Bruyette & Woods boosted their price objective on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Barclays increased their target price on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley boosted their target price 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.00.

Jackson Financial Stock Down 2.3 %

Shares of NYSE:JXN opened at $100.03 on Thursday. The business’s 50 day moving average is $98.72 and its 200 day moving average is $86.14. The stock has a market cap of $7.39 billion, a P/E ratio of -8.00 and a beta of 1.48. Jackson Financial Inc. has a 52-week low of $46.70 and a 52-week high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company posted $3.80 EPS. Sell-side analysts predict that Jackson Financial Inc. will post 18.8 EPS for the current year.

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

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio (DPR) is -22.15%.

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.