Intech Investment Management LLC Makes New $2.09 Million Investment in Jackson Financial Inc. (NYSE:JXN)

Intech Investment Management LLC purchased a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,869 shares of the company's stock, valued at approximately $2,086,000.

Other hedge funds have also recently bought and sold shares of the company. Asset Allocation Strategies LLC lifted 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 during the last quarter. Mutual of America Capital Management LLC lifted 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 during the last quarter. Private Advisor Group LLC lifted 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 during the last quarter. International Assets Investment Management LLC lifted 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 during the last quarter. Finally, Blue Trust Inc. lifted 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 during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Carrie Chelko sold 5,500 shares of the company'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 transaction, the executive vice president now owns 61,829 shares of the company's stock, valued at $5,645,605.99. This represents a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Evercore ISI cut 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 report on Thursday, November 14th. Jefferies Financial Group lifted their price target on Jackson Financial from $73.00 to $80.00 and gave the stock a "hold" rating in a report on Monday, July 29th. 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 report on Wednesday, August 14th. Barclays lifted their price target on 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 lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an "equal weight" rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $84.00.

Jackson Financial Price Performance

NYSE JXN traded up $1.34 during trading on Monday, hitting $103.22. 926,947 shares of the company's stock were exchanged, compared to its average volume of 735,841. The company has a market cap of $7.62 billion, a PE ratio of -8.06 and a beta of 1.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a fifty-two week low of $46.05 and a fifty-two week high of $115.22. The stock's 50 day moving average price is $98.02 and its two-hundred day moving average price is $85.78.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the business earned $3.80 EPS. Research analysts expect that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently disclosed 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 2.71%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial's dividend payout ratio is currently -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.