Jackson Financial Inc. (NYSE:JXN) Shares Sold by Concorde Asset Management LLC

Concorde Asset Management LLC lowered its position in shares of Jackson Financial Inc. (NYSE:JXN) by 27.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,400 shares of the company’s stock after selling 1,300 shares during the quarter. Concorde Asset Management LLC’s holdings in Jackson Financial were worth $310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new stake in Jackson Financial during the 2nd quarter worth about $25,000. Blue Trust Inc. lifted its position in Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after acquiring an additional 260 shares during the period. EverSource Wealth Advisors LLC raised its stake 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 buying an additional 316 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Jackson Financial by 60.8% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after buying an additional 293 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Jackson Financial by 80.5% during the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after buying an additional 457 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Trading Up 0.4 %

Shares of Jackson Financial stock opened at $98.89 on Friday. The stock has a market cap of $7.30 billion, a P/E ratio of -7.82 and a beta of 1.48. The stock’s 50 day simple moving average is $97.32 and its 200-day simple moving average is $85.30. Jackson Financial Inc. has a 1-year low of $45.57 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.

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

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

Jackson Financial Dividend Announcement

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 issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s dividend payout ratio is presently -22.15%.

Insider Activity at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JXN. Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Morgan Stanley lifted their price target 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. Jefferies Financial Group lifted their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. Finally, Barclays boosted their price objective on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.00.

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.