Victory Capital Management Inc. Has $13.77 Million Stock Position in Jackson Financial Inc. (NYSE:JXN)

Victory Capital Management Inc. lessened its stake in Jackson Financial Inc. (NYSE:JXN) by 28.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,878 shares of the company’s stock after selling 60,260 shares during the quarter. Victory Capital Management Inc. owned about 0.20% of Jackson Financial worth $13,765,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Allocation Strategies LLC increased its holdings in Jackson Financial by 0.6% in the 2nd 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 period. Private Advisor Group LLC increased its stake in 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 acquiring an additional 178 shares during the last quarter. International Assets Investment Management LLC raised its position in Jackson Financial by 2.0% during the second quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock valued at $739,000 after purchasing an additional 199 shares in the last quarter. Blue Trust Inc. lifted its stake in Jackson Financial by 232.1% during 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. Finally, QRG Capital Management Inc. lifted its stake in Jackson Financial by 3.0% during the second quarter. QRG Capital Management Inc. now owns 9,089 shares of the company’s stock worth $675,000 after purchasing an additional 264 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JXN shares. Barclays boosted 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. Keefe, Bruyette & Woods increased their target price 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. Morgan Stanley raised their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Jefferies Financial Group upped their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and raised their target price for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Jackson Financial Stock Performance

NYSE:JXN opened at $99.46 on Wednesday. The stock’s 50-day moving average is $96.54 and its 200-day moving average is $85.01. Jackson Financial Inc. has a 1-year low of $45.26 and a 1-year high of $115.22. 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 $7.35 billion, a P/E ratio of -7.87 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share 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 analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $3.80 earnings per share. Equities research analysts anticipate that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.82%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s dividend payout ratio is currently -22.15%.

Jackson Financial declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the company to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 61,829 shares in the company, valued at approximately $5,645,605.99. This trade represents a 8.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Jackson Financial Company 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.