Jackson Financial Inc. (NYSE:JXN) Holdings Lifted by Plato Investment Management Ltd

Plato Investment Management Ltd increased its holdings in Jackson Financial Inc. (NYSE:JXN) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,845 shares of the company’s stock after acquiring an additional 279 shares during the period. Plato Investment Management Ltd’s holdings in Jackson Financial were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of JXN. SG Americas Securities LLC boosted its stake in shares of Jackson Financial by 74.8% during the 1st quarter. SG Americas Securities LLC now owns 3,712 shares of the company’s stock valued at $246,000 after buying an additional 1,588 shares during the period. US Bancorp DE boosted its position in Jackson Financial by 33,231.3% during the first quarter. US Bancorp DE now owns 10,666 shares of the company’s stock valued at $705,000 after purchasing an additional 10,634 shares during the last quarter. ProShare Advisors LLC grew its stake in Jackson Financial by 4.0% in the first quarter. ProShare Advisors LLC now owns 15,902 shares of the company’s stock valued at $1,052,000 after purchasing an additional 612 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Jackson Financial by 11.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 98,904 shares of the company’s stock valued at $6,542,000 after buying an additional 10,487 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Jackson Financial by 10.1% in the 1st quarter. Acadian Asset Management LLC now owns 495,070 shares of the company’s stock valued at $32,734,000 after buying an additional 45,332 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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. The trade was a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price 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. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $74.00 to $95.00 in a research note on Thursday. Barclays raised their target price on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley upped their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.00.

Jackson Financial Stock Performance

NYSE:JXN opened at $100.63 on Friday. The firm’s 50-day moving average is $95.75 and its 200-day moving average is $84.35. The company has a market cap of $7.57 billion, a price-to-earnings ratio of -7.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a 52-week low of $44.40 and a 52-week high of $115.22.

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 the consensus estimate of $4.67 by ($0.07). The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $3.80 EPS. Equities research analysts anticipate that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial announced that its board has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Jackson Financial Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.78%. Jackson Financial’s payout ratio is -22.15%.

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.