Citigroup Inc. Acquires 78,344 Shares of Jackson Financial Inc. (NYSE:JXN)

Citigroup Inc. boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 130.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 138,374 shares of the company’s stock after purchasing an additional 78,344 shares during the quarter. Citigroup Inc. owned about 0.18% of Jackson Financial worth $12,624,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Jackson Financial by 3.8% in 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 in the last quarter. American Century Companies Inc. lifted its stake in Jackson Financial by 6.5% in 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 in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of 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. Charles Schwab Investment Management Inc. grew its position in shares of Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock valued at $95,874,000 after purchasing an additional 300,520 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Jackson Financial by 11.4% in the second 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 last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on JXN. Barclays raised their price target on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Keefe, Bruyette & Woods increased 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. Finally, Morgan Stanley lifted their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.00.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the business’s 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 completion of the transaction, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. The trade was a 8.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Jackson Financial Stock Performance

NYSE:JXN opened at $100.13 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s fifty day moving average is $99.14 and its 200 day moving average is $86.33. The firm has a market capitalization of $7.40 billion, a PE ratio of -7.92 and a beta of 1.48. Jackson Financial Inc. has a fifty-two week low of $46.70 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN) last released its 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 firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business earned $3.80 EPS. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

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. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.80%. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

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

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.