Public Sector Pension Investment Board Raises Position in Jackson Financial Inc. (NYSE:JXN)

Public Sector Pension Investment Board raised its holdings in Jackson Financial Inc. (NYSE:JXN) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 159,611 shares of the company’s stock after acquiring an additional 10,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Jackson Financial were worth $14,561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Jackson Financial by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock worth $332,035,000 after purchasing an additional 163,598 shares during the last quarter. American Century Companies Inc. lifted its position 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 last quarter. Acadian Asset Management LLC lifted its position 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 worth $90,525,000 after purchasing an additional 724,148 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Jackson Financial by 40.0% in 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 acquiring an additional 300,520 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Jackson Financial by 11.4% in the second quarter. Federated Hermes Inc. now owns 978,301 shares of the company’s stock valued at $72,649,000 after acquiring an additional 99,992 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s 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 sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This represents a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Jackson Financial Stock Down 2.2 %

Shares of Jackson Financial stock opened at $100.13 on Friday. Jackson Financial Inc. has a 52-week low of $46.70 and a 52-week high of $115.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $99.14 and its 200-day simple moving average is $86.33.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business posted $3.80 EPS. Analysts predict that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

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

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued 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 is Thursday, December 5th. Jackson Financial’s dividend payout ratio is currently -22.15%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research 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 company from $74.00 to $95.00 in a research report on Thursday, November 14th. Morgan Stanley lifted their price objective 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. Finally, Keefe, Bruyette & Woods lifted 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 note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and an average price target of $84.00.

Jackson Financial 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.