Mutual of America Capital Management LLC Acquires 159 Shares of Jackson Financial Inc. (NYSE:JXN)

Mutual of America Capital Management LLC boosted its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,316 shares of the company’s stock after purchasing an additional 159 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Jackson Financial were worth $1,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in shares of Jackson Financial by 9,363.9% during the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after buying an additional 932,085 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Jackson Financial by 146.3% during the second quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after acquiring an additional 724,148 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Jackson Financial in the third quarter valued at approximately $40,795,000. LSV Asset Management increased its stake in shares of Jackson Financial by 2,459.7% during the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock worth $32,625,000 after purchasing an additional 422,175 shares during the period. Finally, Raymond James & Associates lifted its holdings in Jackson Financial by 496.9% during the 2nd quarter. Raymond James & Associates now owns 278,071 shares of the company’s stock worth $20,650,000 after purchasing an additional 231,489 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on JXN shares. Evercore ISI cut Jackson Financial from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Barclays raised their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Morgan Stanley raised their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group boosted their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Jackson Financial Price Performance

JXN stock opened at $103.22 on Tuesday. The company’s 50-day moving average price is $98.02 and its two-hundred day moving average price is $85.78. The firm has a market cap of $7.62 billion, a P/E ratio of -8.17 and a beta of 1.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 12 month low of $46.05 and a 12 month high of $115.22.

Jackson Financial (NYSE:JXN) last posted 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 company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $3.80 EPS. On average, analysts anticipate that Jackson Financial Inc. will post 18.8 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.71%. Jackson Financial’s dividend payout ratio (DPR) is currently -22.15%.

Jackson Financial announced that its board has authorized a share repurchase 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 board believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Carrie Chelko sold 5,500 shares of the company’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 directly owns 61,829 shares in the company, valued at $5,645,605.99. This represents a 8.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

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.