Martingale Asset Management L P Purchases 3,260 Shares of Jackson Financial Inc. (NYSE:JXN)

Martingale Asset Management L P grew its position in Jackson Financial Inc. (NYSE:JXN) by 22.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,918 shares of the company’s stock after acquiring an additional 3,260 shares during the quarter. Martingale Asset Management L P’s holdings in Jackson Financial were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Cetera Investment Advisers bought a new stake in Jackson Financial in the first quarter worth $3,812,000. DekaBank Deutsche Girozentrale increased its stake in Jackson Financial by 11.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock worth $7,073,000 after acquiring an additional 11,328 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Jackson Financial during the third quarter worth approximately $897,000. Assetmark Inc. increased its stake in Jackson Financial by 7.9% during the third quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock worth $8,360,000 after acquiring an additional 6,724 shares during the last quarter. Finally, Versor Investments LP increased its stake in Jackson Financial by 145.1% during the third quarter. Versor Investments LP now owns 17,710 shares of the company’s stock worth $1,616,000 after acquiring an additional 10,483 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on JXN shares. Barclays boosted their target price 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 cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Finally, Keefe, Bruyette & Woods upped their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $84.00.

Jackson Financial Trading Up 0.1 %

NYSE JXN opened at $100.19 on Monday. The company’s 50-day moving average price is $99.34 and its 200-day moving average price is $86.66. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a market cap of $7.40 billion, a PE ratio of -7.93 and a beta of 1.48. Jackson Financial Inc. has a 12 month low of $46.86 and a 12 month high of $115.22.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the company earned $3.80 EPS. Equities research analysts forecast that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s payout ratio is -22.15%.

Jackson Financial declared that its board has initiated a share buyback plan on Wednesday, August 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction dated 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 directly owns 61,829 shares in the company, valued at $5,645,605.99. This represents a 8.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

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.