ClearAlpha Technologies LP Trims Stock Position in Jackson Financial Inc. (NYSE:JXN)

ClearAlpha Technologies LP trimmed its stake in Jackson Financial Inc. (NYSE:JXN) by 44.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,333 shares of the company’s stock after selling 6,640 shares during the quarter. ClearAlpha Technologies LP’s holdings in Jackson Financial were worth $760,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Benjamin Edwards Inc. bought a new position in Jackson Financial in the third quarter worth about $813,000. Kestra Investment Management LLC purchased a new position in shares of Jackson Financial during the 3rd quarter worth approximately $1,393,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Jackson Financial in the 3rd quarter worth approximately $13,381,000. Arete Wealth Advisors LLC purchased a new position in shares of Jackson Financial in the 3rd quarter valued at approximately $258,000. Finally, Martingale Asset Management L P lifted its stake in shares of Jackson Financial by 22.2% in the 3rd quarter. Martingale Asset Management L P now owns 17,918 shares of the company’s stock valued at $1,635,000 after purchasing an additional 3,260 shares during the period. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 0.1 %

NYSE:JXN opened at $100.19 on Monday. 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 firm has a market cap of $7.40 billion, a P/E ratio of -7.93 and a beta of 1.48. Jackson Financial Inc. has a fifty-two week low of $46.86 and a fifty-two week high of $115.22. The firm has a 50-day simple moving average of $99.34 and a two-hundred day simple moving average of $86.66.

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

Jackson Financial announced that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.79%. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

Insider Buying and Selling

In other 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 transaction of $502,205.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

JXN has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. 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 research note on Tuesday, October 8th. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Finally, Morgan Stanley upped their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company 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.