Petra Financial Advisors Inc. Acquires New Holdings in Jackson Financial Inc. (NYSE:JXN)

Petra Financial Advisors Inc. bought a new position in Jackson Financial Inc. (NYSE:JXN) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 8,036 shares of the company’s stock, valued at approximately $733,000.

A number of other large investors have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. purchased a new position in shares of Jackson Financial in the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after purchasing an additional 260 shares during the period. GAMMA Investing LLC increased its position in shares of Jackson Financial by 60.8% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after purchasing an additional 293 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of Jackson Financial by 41.2% in the 1st quarter. Headlands Technologies LLC now owns 1,055 shares of the company’s stock worth $70,000 after purchasing an additional 308 shares during the period. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on JXN. Jefferies Financial Group upped their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Barclays upped their price objective on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley boosted their price target on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $80.33.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

Shares of JXN stock traded down $0.98 on Thursday, hitting $101.79. 46,365 shares of the stock traded hands, compared to its average volume of 728,831. 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 Inc. has a 52 week low of $36.06 and a 52 week high of $104.05. The firm has a 50 day simple moving average of $91.54 and a two-hundred day simple moving average of $81.48. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 3.80 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Jackson Financial’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.34 earnings per share. As a group, equities research analysts predict that Jackson Financial Inc. will post 18.78 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 2.75%. Jackson Financial’s payout ratio is 10.34%.

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

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.