Caisse DE Depot ET Placement DU Quebec Takes Position in Jackson Financial Inc. (NYSE:JXN)

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 146,671 shares of the company's stock, valued at approximately $13,381,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.19% of Jackson Financial at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $80.00 to $82.00 and gave the stock a "market perform" rating in a report on Wednesday, August 14th. Barclays upped their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Evercore ISI lowered 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. Finally, Morgan Stanley increased 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 report on Monday, August 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $84.00.

Insider Transactions at Jackson Financial

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 sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company's stock.

Jackson Financial Stock Performance

JXN traded up $0.19 during trading hours on Monday, hitting $100.38. 715,182 shares of the stock were exchanged, compared to its average volume of 733,431. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a 12 month low of $46.96 and a 12 month high of $115.22. The stock has a 50-day simple moving average of $99.54 and a 200-day simple moving average of $86.83. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of -7.94 and a beta of 1.48.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $3.80 earnings per share. Analysts anticipate that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.79%. Jackson Financial's dividend payout ratio (DPR) is -22.15%.

Jackson Financial announced that its board has approved a share repurchase program on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are 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.