Segall Bryant & Hamill LLC Cuts Stake in Jackson Financial Inc. (NYSE:JXN)

Segall Bryant & Hamill LLC decreased its holdings in Jackson Financial Inc. (NYSE:JXN) by 11.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,225 shares of the company’s stock after selling 9,413 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.10% of Jackson Financial worth $6,954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd purchased a new stake in shares of Jackson Financial during the first quarter worth about $866,000. Lazard Asset Management LLC increased its stake in Jackson Financial by 10.1% during the 1st quarter. Lazard Asset Management LLC now owns 261,981 shares of the company’s stock valued at $17,326,000 after purchasing an additional 24,041 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Jackson Financial by 5.3% in the first quarter. Public Employees Retirement System of Ohio now owns 48,241 shares of the company’s stock worth $3,191,000 after buying an additional 2,436 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Jackson Financial during the first quarter worth $294,000. Finally, Caxton Associates LP grew its holdings in shares of Jackson Financial by 1.7% during the first quarter. Caxton Associates LP now owns 91,414 shares of the company’s stock valued at $6,046,000 after buying an additional 1,494 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 8.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on JXN. Morgan Stanley lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Barclays raised their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Jefferies Financial Group upped their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and a consensus target price of $84.00.

Jackson Financial Price Performance

NYSE:JXN opened at $98.89 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company has a 50 day moving average price of $97.32 and a 200-day moving average price of $85.30. Jackson Financial Inc. has a 1-year low of $45.57 and a 1-year high of $115.22. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of -7.82 and a beta of 1.48.

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

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

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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s payout ratio 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.