Jackson Financial Inc. (NYSE:JXN) Shares Sold by Fernwood Investment Management LLC

Fernwood Investment Management LLC lessened its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 11.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,325 shares of the company’s stock after selling 950 shares during the quarter. Fernwood Investment Management LLC’s holdings in Jackson Financial were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Cetera Investment Advisers acquired a new position in Jackson Financial during the 1st quarter worth approximately $3,812,000. FORA Capital LLC lifted its position in shares of Jackson Financial by 399.7% during the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after purchasing an additional 22,312 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Jackson Financial by 32.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock worth $4,044,000 after purchasing an additional 14,848 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Jackson Financial by 16.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock valued at $2,714,000 after purchasing an additional 5,819 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new stake in Jackson Financial during the 1st quarter valued at $866,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity

In related 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 sale, the executive vice president now owns 61,829 shares in the company, valued at $5,645,605.99. This represents 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 this hyperlink. Company insiders own 1.30% of the company’s stock.

Jackson Financial Stock Down 1.6 %

Jackson Financial stock traded down $1.63 during midday trading on Friday, hitting $98.32. The stock had a trading volume of 526,807 shares, compared to its average volume of 591,700. The business has a fifty day moving average price of $92.08 and a 200 day moving average price of $81.98. Jackson Financial Inc. has a 12 month low of $37.74 and a 12 month high of $104.05. The stock has a market cap of $7.40 billion, a P/E ratio of 3.63 and a beta of 1.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last issued 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 firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. Jackson Financial’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 EPS. Research analysts predict that Jackson Financial Inc. will post 18.78 EPS for the current year.

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

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a $0.70 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.85%. Jackson Financial’s payout ratio is currently 10.34%.

Wall Street Analyst Weigh In

JXN has been the topic of a number of recent analyst reports. Barclays boosted 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. Jefferies Financial Group increased their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective 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. Finally, Morgan Stanley upped their target price on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.