Jackson Financial Inc. (NYSE:JXN) Short Interest Update

Jackson Financial Inc. (NYSE:JXN) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 3,140,000 shares, a decline of 6.0% from the September 30th total of 3,340,000 shares. Based on an average daily trading volume, of 699,400 shares, the days-to-cover ratio is currently 4.5 days. Currently, 4.3% of the shares of the company are sold short.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the business’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 transaction, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in Jackson Financial by 9,363.9% during the third quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after purchasing an additional 932,085 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after buying an additional 724,148 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Jackson Financial in the third quarter worth approximately $40,795,000. LSV Asset Management grew its position in Jackson Financial by 2,459.7% during the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after acquiring an additional 422,175 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its stake in shares of Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after acquiring an additional 397,287 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Down 1.6 %

Shares of NYSE:JXN opened at $98.36 on Friday. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 3.63 and a beta of 1.50. Jackson Financial has a one year low of $37.74 and a one year high of $104.05. The firm has a fifty day moving average price of $91.86 and a two-hundred day moving average price of $81.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm earned $3.34 earnings per share. Jackson Financial’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Jackson Financial will post 18.78 EPS for the current fiscal year.

Jackson Financial declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is currently 10.34%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Barclays raised their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.33.

About Jackson Financial

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.