Caisse DE Depot ET Placement DU Quebec Makes New Investment in Jackson Financial Inc. (NYSE:JXN)

Caisse DE Depot ET Placement DU Quebec bought a new position in Jackson Financial Inc. (NYSE:JXN) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 146,671 shares of the company’s stock, valued at approximately $13,381,000. Caisse DE Depot ET Placement DU Quebec owned 0.19% of Jackson Financial at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Asset Allocation Strategies LLC grew its position in shares of Jackson Financial by 0.6% during the 2nd quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock valued at $1,405,000 after acquiring an additional 119 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Jackson Financial by 1.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock worth $1,032,000 after buying an additional 159 shares during the period. Private Advisor Group LLC boosted its holdings in Jackson Financial by 1.2% in the 2nd quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after buying an additional 178 shares during the period. International Assets Investment Management LLC boosted its holdings in Jackson Financial by 2.0% in the 2nd quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock worth $739,000 after buying an additional 199 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Jackson Financial by 232.1% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after buying an additional 260 shares during the period. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

Jackson Financial stock opened at $100.19 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a 1-year low of $46.86 and a 1-year high of $115.22. The firm has a market capitalization of $7.40 billion, a P/E ratio of -7.93 and a beta of 1.48. The company’s 50-day moving average is $99.34 and its 200 day moving average is $86.66.

Jackson Financial (NYSE:JXN) last posted 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 quarter in the prior year, the business earned $3.80 earnings per share. Research analysts forecast that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.70 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a yield of 2.79%. Jackson Financial’s dividend payout ratio is currently -22.15%.

Jackson Financial declared that its Board of Directors has approved a share repurchase program on Wednesday, August 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on JXN. Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Barclays boosted 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. Finally, Morgan Stanley boosted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. One investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.00.

Insiders Place Their Bets

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 transaction, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. This represents a 8.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

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.