Edgestream Partners L.P. Cuts Holdings in Jackson Financial Inc. (NYSE:JXN)

Edgestream Partners L.P. reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 79.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,235 shares of the company's stock after selling 76,645 shares during the quarter. Edgestream Partners L.P.'s holdings in Jackson Financial were worth $1,846,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of JXN. Asset Allocation Strategies LLC increased its position in shares of Jackson Financial by 0.6% in the second quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company's stock valued at $1,405,000 after buying an additional 119 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Jackson Financial by 1.4% in the third quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company's stock valued at $1,032,000 after buying an additional 159 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Jackson Financial by 1.2% in the second quarter. Private Advisor Group LLC now owns 14,962 shares of the company's stock valued at $1,111,000 after buying an additional 178 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Jackson Financial by 2.0% in the second quarter. International Assets Investment Management LLC now owns 9,954 shares of the company's stock valued at $739,000 after buying an additional 199 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $34,000 after buying an additional 260 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 0.6 %

Shares of Jackson Financial stock traded up $0.64 during trading hours on Wednesday, hitting $99.62. The company's stock had a trading volume of 538,635 shares, compared to its average volume of 731,172. Jackson Financial Inc. has a twelve month low of $46.96 and a twelve month high of $115.22. The firm has a fifty day moving average of $99.72 and a 200-day moving average of $86.98. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of -7.83 and a beta of 1.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly 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 analyst estimates of $1.73 billion. During the same quarter in the previous year, the business posted $3.80 earnings per share. Research analysts forecast that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial's dividend payout ratio (DPR) is presently -22.15%.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the business's stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Barclays boosted their price objective on Jackson Financial from $109.00 to $111.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Evercore ISI lowered Jackson Financial from an "in-line" rating to an "underperform" rating and lifted their price target for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Morgan Stanley lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. Finally, Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.