Geode Capital Management LLC Increases Position in Jackson Financial Inc. (NYSE:JXN)

Geode Capital Management LLC grew its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 7.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,086,155 shares of the company's stock after purchasing an additional 144,530 shares during the quarter. Geode Capital Management LLC owned approximately 2.77% of Jackson Financial worth $194,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in JXN. Hantz Financial Services Inc. acquired a new stake in shares of Jackson Financial during the 2nd quarter worth approximately $25,000. Blue Trust Inc. raised its stake in shares of Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $34,000 after purchasing an additional 260 shares during the last quarter. CWM LLC boosted its holdings in Jackson Financial by 80.5% during the 2nd quarter. CWM LLC now owns 1,025 shares of the company's stock worth $76,000 after acquiring an additional 457 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Jackson Financial by 2,173.9% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,046 shares of the company's stock worth $78,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Jackson Financial in the third quarter valued at about $141,000. Institutional investors and hedge funds own 89.96% of the company's stock.

Insiders Place Their Bets

In related news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the transaction, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This represents 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 available at the SEC website. Also, Director Gregory T. Durant bought 1,500 shares of the stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the acquisition, the director now owns 32,023 shares of the company's stock, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on JXN. 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 note on Tuesday, October 8th. Morgan Stanley raised their target price on Jackson Financial from $86.00 to $89.00 and gave the company an "equal weight" rating in a research report on Monday, August 19th. Finally, Evercore ISI downgraded shares of Jackson Financial from an "in-line" rating to an "underperform" rating and boosted their price target for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Jackson Financial presently has an average rating of "Hold" and a consensus price target of $84.00.

Jackson Financial Trading Up 1.0 %

Shares of NYSE:JXN traded up $0.90 during midday trading on Monday, hitting $92.45. 816,334 shares of the stock traded hands, compared to its average volume of 731,924. Jackson Financial Inc. has a one year low of $47.49 and a one year high of $115.22. 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 business's 50 day moving average is $100.13 and its two-hundred day moving average is $87.93. The stock has a market capitalization of $6.83 billion, a PE ratio of -7.31 and a beta of 1.42.

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 for the quarter, compared to analysts' expectations of $1.73 billion. During the same period last year, the company posted $3.80 earnings per share. As a group, research analysts forecast that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial's dividend payout ratio (DPR) is presently -22.15%.

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.