Entropy Technologies LP Lowers Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Entropy Technologies LP cut its position in Jackson Financial Inc. (NYSE:JXN) by 72.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,000 shares of the company’s stock after selling 10,681 shares during the period. Entropy Technologies LP’s holdings in Jackson Financial were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new position in Jackson Financial in the 2nd quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its stake in Jackson Financial by 400.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after buying an additional 316 shares during the period. Blue Trust Inc. lifted its holdings in Jackson Financial by 232.1% during the 3rd 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 lifted its holdings in Jackson Financial by 60.8% during the 2nd 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 boosted its position in Jackson Financial by 80.5% in the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after buying an additional 457 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays increased their price objective on Jackson Financial from $109.00 to $111.00 and gave the company 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 increased their price target for the company from $74.00 to $95.00 in a research report on Thursday. Jefferies Financial Group boosted their price objective on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Morgan Stanley lifted their price target on shares of 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 boosted their price target on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. 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 MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average target price of $84.00.

Insider Activity at Jackson Financial

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

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $100.63 on Friday. The firm has a market capitalization of $7.57 billion, a P/E ratio of -7.96 and a beta of 1.48. Jackson Financial Inc. has a 52 week low of $44.40 and a 52 week 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 firm’s 50 day moving average is $95.75 and its two-hundred day moving average is $84.35.

Jackson Financial (NYSE:JXN) last issued its 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 analyst estimates of $1.73 billion. During the same period last year, the firm posted $3.80 EPS. Research analysts forecast that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s payout ratio is currently -22.15%.

Jackson Financial declared that its board has initiated a share 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.