Vest Financial LLC Lowers Holdings in Jackson Financial Inc. (NYSE:JXN)

Vest Financial LLC trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 310,366 shares of the company’s stock after selling 7,275 shares during the quarter. Vest Financial LLC owned 0.41% of Jackson Financial worth $28,315,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after purchasing an additional 724,148 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Jackson Financial during the third quarter valued at approximately $40,795,000. LSV Asset Management increased its holdings in shares of Jackson Financial by 2,459.7% in the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after purchasing an additional 422,175 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after acquiring an additional 397,287 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Jackson Financial during the first quarter worth $21,892,000. 89.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the transaction, the executive vice president now owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Stock Performance

JXN stock traded down $1.86 on Friday, reaching $98.58. 541,586 shares of the company were exchanged, compared to its average volume of 738,624. The stock’s fifty day moving average price is $89.28 and its 200 day moving average price is $79.58. The firm has a market capitalization of $7.52 billion, a PE ratio of 2.60 and a beta of 1.50. 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 12 month low of $36.06 and a 12 month high of $101.73.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $3.34 EPS. Jackson Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, research analysts anticipate that Jackson Financial Inc. will post 18.59 EPS for the current fiscal year.

Jackson Financial declared that its board has initiated a share repurchase plan on Wednesday, August 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JXN. Evercore ISI decreased their target price on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Morgan Stanley boosted their price target on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group upped their target price on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Barclays boosted their price target on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial has an average rating of “Hold” and an average target price of $80.33.

Jackson Financial Company 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.