Vest Financial LLC Has $28.32 Million Position in Jackson Financial Inc. (NYSE:JXN)

Vest Financial LLC reduced its position in shares of Jackson Financial Inc. (NYSE:JXN) by 2.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 310,366 shares of the company’s stock after selling 7,275 shares during the quarter. Vest Financial LLC’s holdings in Jackson Financial were worth $28,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in Jackson Financial during the second quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares in the last quarter. GAMMA Investing LLC raised its holdings in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Blue Trust Inc. raised its holdings in Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after acquiring an additional 260 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new stake in Jackson Financial during the first quarter worth about $66,000. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays upped their price objective on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Evercore ISI dropped their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group upped 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. Morgan Stanley upped their price objective 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. Finally, Keefe, Bruyette & Woods upped 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. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $80.33.

Insider Buying and Selling

In related news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at $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 available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Jackson Financial Stock Performance

Shares of NYSE JXN traded down $1.86 during trading hours on Friday, reaching $98.58. 541,586 shares of the stock were exchanged, compared to its average volume of 738,624. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 2.60 and a beta of 1.50. 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 $36.06 and a 52 week high of $101.73. The stock’s fifty day simple moving average is $89.28 and its 200 day simple moving average is $79.58.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.71 billion. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.34 EPS. Sell-side analysts predict that Jackson Financial Inc. will post 18.59 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently declared 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. This represents a $2.80 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s dividend payout ratio is currently 7.40%.

Jackson Financial announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.