Benjamin Edwards Inc. Takes $813,000 Position in Jackson Financial Inc. (NYSE:JXN)

Benjamin Edwards Inc. acquired a new position in Jackson Financial Inc. (NYSE:JXN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,914 shares of the company's stock, valued at approximately $813,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in Jackson Financial by 9,363.9% during the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company's stock valued at $85,942,000 after buying an additional 932,085 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Jackson Financial by 146.3% during the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company's stock valued at $90,525,000 after buying an additional 724,148 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Jackson Financial in the third quarter worth approximately $40,795,000. LSV Asset Management boosted its stake in shares of Jackson Financial by 2,459.7% during the 2nd quarter. LSV Asset Management now owns 439,339 shares of the company's stock worth $32,625,000 after acquiring an additional 422,175 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Jackson Financial by 40.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company's stock worth $95,874,000 after acquiring an additional 300,520 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on JXN shares. Evercore ISI cut Jackson Financial from an "in-line" rating to an "underperform" rating and raised their target price for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. 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 report on Wednesday, August 14th. Barclays increased their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $84.00.

Jackson Financial Price Performance

Shares of NYSE:JXN traded down $0.33 on Friday, reaching $97.85. The company's stock had a trading volume of 795,135 shares, compared to its average volume of 659,161. The company has a 50-day simple moving average of $100.21 and a 200 day simple moving average of $87.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $7.23 billion, a P/E ratio of -7.74 and a beta of 1.42. Jackson Financial Inc. has a 52-week low of $47.49 and a 52-week high of $115.22.

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

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.70 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.86%. Jackson Financial's dividend payout ratio (DPR) is presently -22.15%.

Insider Buying and Selling

In other Jackson Financial 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 directly owns 61,829 shares of the company's stock, valued at $5,645,605.99. The trade was a 8.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

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.