Cwm LLC Acquires 635 Shares of Jackson Financial Inc. (NYSE:JXN)

Cwm LLC raised its holdings in Jackson Financial Inc. (NYSE:JXN) by 62.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,660 shares of the company’s stock after buying an additional 635 shares during the quarter. Cwm LLC’s holdings in Jackson Financial were worth $151,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Hantz Financial Services Inc. purchased a new stake in Jackson Financial in the second quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position 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 worth $27,000 after purchasing an additional 316 shares during the period. GAMMA Investing LLC boosted its stake in shares of Jackson Financial by 60.8% during 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. Valued Wealth Advisors LLC purchased a new position in shares of Jackson Financial during the first quarter valued at about $66,000. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Jackson Financial by 2,173.9% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,046 shares of the company’s stock valued at $78,000 after buying an additional 1,000 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Performance

Jackson Financial stock opened at $99.47 on Friday. The stock’s 50 day moving average is $90.38 and its 200 day moving average is $80.37. The company has a market capitalization of $7.59 billion, a P/E ratio of 2.63 and a beta of 1.50. Jackson Financial Inc. has a twelve month low of $36.06 and a twelve month high of $101.73. 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 released its earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.34 earnings per share. On average, equities research analysts predict that Jackson Financial Inc. will post 18.59 earnings per share for the current fiscal year.

Jackson Financial declared that its board has initiated a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Insiders Place Their Bets

In other news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were 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 in the company, valued at $5,645,605.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on JXN. Barclays lifted their price objective on 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 lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods upped their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group raised their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.