Charles Schwab Investment Management Inc. Raises Holdings in Jackson Financial Inc. (NYSE:JXN)

Charles Schwab Investment Management Inc. lifted its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 40.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,050,903 shares of the company's stock after acquiring an additional 300,520 shares during the period. Charles Schwab Investment Management Inc. owned 1.40% of Jackson Financial worth $95,874,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JXN. International Assets Investment Management LLC boosted its stake in Jackson Financial by 9,363.9% in the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company's stock worth $85,942,000 after purchasing an additional 932,085 shares during the period. Acadian Asset Management LLC grew its stake 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 acquiring an additional 724,148 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Jackson Financial in the 3rd quarter valued at $40,795,000. LSV Asset Management lifted its stake in Jackson Financial by 2,459.7% in the 2nd quarter. LSV Asset Management now owns 439,339 shares of the company's stock worth $32,625,000 after purchasing an additional 422,175 shares in the last quarter. Finally, Raymond James & Associates grew its position in shares of Jackson Financial by 496.9% during the second quarter. Raymond James & Associates now owns 278,071 shares of the company's stock valued at $20,650,000 after purchasing an additional 231,489 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on JXN shares. Evercore ISI lowered Jackson Financial from an "in-line" rating to an "underperform" rating and increased their price target for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. Keefe, Bruyette & Woods increased their target price 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. Morgan Stanley boosted 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. Finally, Barclays increased their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $84.00.

Jackson Financial Price Performance

Shares of JXN opened at $102.40 on Wednesday. Jackson Financial Inc. has a 52-week low of $46.05 and a 52-week high of $115.22. 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 business has a fifty day moving average of $98.39 and a 200 day moving average of $85.95.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings data 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 period in the prior year, the firm posted $3.80 earnings per share. On average, research analysts predict that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial's dividend payout ratio is currently -22.15%.

Jackson Financial declared that its board has initiated a share repurchase program on Wednesday, August 7th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Insider Transactions at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.

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.