Victory Capital Management Inc. Lowers Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Victory Capital Management Inc. decreased its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 28.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,878 shares of the company's stock after selling 60,260 shares during the quarter. Victory Capital Management Inc. owned approximately 0.20% of Jackson Financial worth $13,765,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of JXN. Hantz Financial Services Inc. purchased a new stake in shares of Jackson Financial in the second quarter worth $25,000. EverSource Wealth Advisors LLC lifted its holdings in Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company's stock valued at $27,000 after acquiring an additional 316 shares during the period. Blue Trust Inc. increased its position in 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 buying an additional 260 shares in the last quarter. GAMMA Investing LLC increased its position in Jackson Financial by 60.8% in the second quarter. GAMMA Investing LLC now owns 775 shares of the company's stock worth $58,000 after buying an additional 293 shares in the last quarter. Finally, CWM LLC increased its position in Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company's stock worth $76,000 after buying an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Activity at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the firm'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 completion of the sale, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This trade 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 this link. 1.30% of the stock is currently owned by corporate insiders.

Jackson Financial Trading Down 0.9 %

NYSE:JXN traded down $0.92 during trading hours on Wednesday, reaching $98.54. 548,589 shares of the stock were exchanged, compared to its average volume of 735,591. 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 has a 50-day moving average of $96.95 and a two-hundred day moving average of $85.21. Jackson Financial Inc. has a twelve month low of $45.57 and a twelve month high of $115.22. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of -7.91 and a beta of 1.48.

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 firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm posted $3.80 EPS. On average, equities analysts predict that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial announced that its board has initiated a share buyback plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the company to repurchase up to 10.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial's dividend payout ratio (DPR) is presently -22.15%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 14th. Barclays raised 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 target price for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Morgan Stanley lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the company an "equal weight" rating in a report on Monday, August 19th. Finally, Jefferies Financial Group boosted their target price on Jackson Financial from $73.00 to $80.00 and gave the stock a "hold" rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Jackson Financial currently has an average rating of "Hold" and a consensus price target 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.