Jackson Financial Inc. (NYSE:JXN) Sees Significant Decrease in Short Interest

Jackson Financial Inc. (NYSE:JXN) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 3,140,000 shares, a decline of 6.0% from the September 30th total of 3,340,000 shares. Approximately 4.3% of the company’s shares are sold short. Based on an average trading volume of 699,400 shares, the days-to-cover ratio is currently 4.5 days.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $98.36 on Friday. Jackson Financial has a twelve month low of $37.74 and a twelve month high of $104.05. The stock’s 50 day moving average is $91.86 and its 200-day moving average is $81.61. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 3.63 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $3.34 earnings per share. Sell-side analysts forecast that Jackson Financial will post 18.78 EPS for the current fiscal year.

Jackson Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio is currently 10.34%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Jackson Financial

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Jackson Financial by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock worth $332,035,000 after acquiring an additional 163,598 shares during the last quarter. Donald Smith & CO. Inc. grew its position in Jackson Financial by 20.1% in the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after purchasing an additional 397,287 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Jackson Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock worth $120,529,000 after buying an additional 98,792 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after buying an additional 724,148 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Jackson Financial by 6.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,106,063 shares of the company’s stock valued at $73,155,000 after acquiring an additional 66,534 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

JXN has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock 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 company a “market perform” rating in a research note on Wednesday, August 14th. Barclays raised their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and a consensus price target 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.