Jackson Financial Inc. (NYSE:JXN) Sees Significant Drop in Short Interest

Jackson Financial Inc. (NYSE:JXN) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 3,140,000 shares, a decrease of 6.0% from the September 30th total of 3,340,000 shares. Based on an average daily trading volume, of 699,400 shares, the short-interest ratio is currently 4.5 days. Approximately 4.3% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of brokerages have weighed in on JXN. Jefferies Financial Group increased their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Barclays increased their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley increased their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.33.

Jackson Financial Price Performance

Shares of JXN stock traded down $1.60 during trading hours on Thursday, hitting $101.17. 164,108 shares of the company’s stock were exchanged, compared to its average volume of 729,389. The company has a market capitalization of $7.61 billion, a PE ratio of 3.80 and a beta of 1.50. Jackson Financial has a 12-month low of $36.06 and a 12-month high of $104.05. The business’s 50 day simple moving average is $91.54 and its 200-day simple moving average is $81.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business posted $3.34 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that Jackson Financial will post 18.78 earnings per share for the current year.

Jackson Financial announced that its board has authorized a stock repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio is 10.34%.

Insiders Place Their Bets

In other news, EVP Carrie Chelko sold 5,500 shares of the 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Jackson Financial

A number of hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC bought a new stake in shares of Jackson Financial during the 3rd quarter valued at $238,000. Amalgamated Bank raised its position in shares of Jackson Financial by 6.0% in the 3rd quarter. Amalgamated Bank now owns 22,251 shares of the company’s stock worth $2,030,000 after purchasing an additional 1,254 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Jackson Financial in the 3rd quarter worth about $1,504,000. Innealta Capital LLC purchased a new position in shares of Jackson Financial in the 3rd quarter worth about $383,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Jackson Financial by 22.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 89,905 shares of the company’s stock worth $8,202,000 after purchasing an additional 16,663 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

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.