Assetmark Inc. Boosts Stock Position in Jackson Financial Inc. (NYSE:JXN)

Assetmark Inc. lifted its position in shares of Jackson Financial Inc. (NYSE:JXN) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,641 shares of the company’s stock after buying an additional 6,724 shares during the period. Assetmark Inc. owned about 0.12% of Jackson Financial worth $8,360,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JXN. Hantz Financial Services Inc. purchased a new position in shares of Jackson Financial during the second quarter worth approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Jackson Financial by 400.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after purchasing an additional 316 shares during the last quarter. Blue Trust Inc. raised its position 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 purchasing an additional 260 shares during the period. GAMMA Investing LLC lifted its position in Jackson Financial by 60.8% in the second quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after purchasing an additional 293 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Jackson Financial by 41.2% during the first quarter. Headlands Technologies LLC now owns 1,055 shares of the company’s stock valued at $70,000 after purchasing an additional 308 shares during the period. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 4.6 %

Shares of Jackson Financial stock opened at $113.30 on Tuesday. Jackson Financial Inc. has a 1 year low of $42.22 and a 1 year high of $115.22. 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 of $94.01 and a 200 day moving average of $83.48. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of -8.96 and a beta of 1.48.

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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business posted $3.80 earnings per share. As a group, sell-side analysts anticipate that Jackson Financial Inc. will post 18.85 earnings per share for the current fiscal year.

Jackson Financial declared that its board has initiated a share buyback program on Wednesday, August 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s payout ratio is -22.15%.

Insider Activity at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction that occurred on 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 owns 61,829 shares in the company, valued at approximately $5,645,605.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JXN shares. Keefe, Bruyette & Woods raised 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. Jefferies Financial Group boosted their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Barclays increased their price objective on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted their target price on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $80.33.

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.