Jackson Financial Inc. (NYSE:JXN) Shares Bought by Assetmark Inc.

Assetmark Inc. lifted its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,641 shares of the company's stock after purchasing an additional 6,724 shares during the period. Assetmark Inc. owned 0.12% of Jackson Financial worth $8,360,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in shares of Jackson Financial during the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its holdings in 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 acquiring an additional 316 shares during the period. Blue Trust Inc. increased its holdings in shares of Jackson Financial by 232.1% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $34,000 after buying an additional 260 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Jackson Financial by 60.8% in the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company's stock valued at $58,000 after purchasing an additional 293 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in Jackson Financial by 41.2% during the 1st quarter. Headlands Technologies LLC now owns 1,055 shares of the company's stock valued at $70,000 after buying an additional 308 shares during the period. 89.96% of the stock is owned by institutional investors.

Jackson Financial Trading Down 3.0 %

Shares of NYSE JXN traded down $3.40 during trading on Tuesday, hitting $109.89. 657,404 shares of the company traded hands, compared to its average volume of 735,955. 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 $8.27 billion, a P/E ratio of -8.77 and a beta of 1.48. The company has a 50-day moving average price of $94.48 and a 200-day moving average price of $83.79. Jackson Financial Inc. has a 1 year low of $42.22 and a 1 year high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing analysts' consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the company posted $3.80 earnings per share. On average, equities analysts predict that Jackson Financial Inc. will post 18.85 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial's payout ratio is presently -22.15%.

Jackson Financial declared that its Board of Directors has approved a stock buyback program on Wednesday, August 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on JXN shares. Barclays increased their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the company a "market perform" rating in a research report on Wednesday, August 14th. Jefferies Financial Group boosted their price objective 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. Finally, Morgan Stanley upped their price objective 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. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Jackson Financial has a consensus rating of "Hold" and a consensus price target of $80.33.

Insider Transactions at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the business'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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

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.