Algert Global LLC Decreases Holdings in Jackson Financial Inc. (NYSE:JXN)

Algert Global LLC lowered its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 67.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,587 shares of the company's stock after selling 22,070 shares during the quarter. Algert Global LLC's holdings in Jackson Financial were worth $966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JXN. Hantz Financial Services Inc. bought a new stake in Jackson Financial in the second quarter worth about $25,000. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 260 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 worth $27,000 after purchasing an additional 316 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Jackson Financial by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company's stock worth $58,000 after purchasing an additional 293 shares during the period. Finally, CWM LLC lifted its stake in Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company's stock valued at $76,000 after purchasing an additional 457 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insiders Place Their Bets

In other news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction 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 directly owns 61,829 shares of the company's stock, valued at approximately $5,645,605.99. The trade was a 8.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company's stock.

Jackson Financial Price Performance

Shares of Jackson Financial stock traded up $0.06 on Friday, reaching $100.19. The stock had a trading volume of 336,864 shares, compared to its average volume of 733,486. The business's 50 day moving average is $99.34 and its two-hundred day moving average is $86.51. The company has a market cap of $7.40 billion, a P/E ratio of -7.93 and a beta of 1.48. Jackson Financial Inc. has a 1 year low of $46.86 and a 1 year high of $115.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its 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 business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company earned $3.80 EPS. As a group, research analysts anticipate that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.79%. The ex-dividend date is Thursday, December 5th. Jackson Financial's payout ratio is -22.15%.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent research reports. Barclays upped their price target on Jackson Financial from $109.00 to $111.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods upped their price target 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. Finally, 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, November 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $84.00.

Jackson Financial 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.