Martingale Asset Management L P Increases Position in Jackson Financial Inc. (NYSE:JXN)

Martingale Asset Management L P raised its stake in Jackson Financial Inc. (NYSE:JXN) by 22.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,918 shares of the company’s stock after buying an additional 3,260 shares during the quarter. Martingale Asset Management L P’s holdings in Jackson Financial were worth $1,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cetera Investment Advisers purchased a new position in shares of Jackson Financial in the 1st quarter worth approximately $3,812,000. DekaBank Deutsche Girozentrale grew its holdings in Jackson Financial by 11.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 108,944 shares of the company’s stock worth $7,073,000 after purchasing an additional 11,328 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in Jackson Financial in the third quarter worth $897,000. Assetmark Inc. grew its stake in Jackson Financial by 7.9% during the 3rd quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock worth $8,360,000 after buying an additional 6,724 shares during the last quarter. Finally, Versor Investments LP grew its stake in Jackson Financial by 145.1% during the 3rd quarter. Versor Investments LP now owns 17,710 shares of the company’s stock worth $1,616,000 after buying an additional 10,483 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 0.1 %

JXN stock opened at $100.19 on Monday. Jackson Financial Inc. has a 12 month low of $46.86 and a 12 month high of $115.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $7.40 billion, a P/E ratio of -7.93 and a beta of 1.48. The firm’s fifty day simple moving average is $99.34 and its 200-day simple moving average is $86.66.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm earned $3.80 EPS. As a group, equities research analysts forecast that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s payout ratio is currently -22.15%.

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays boosted their target price 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 boosted their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Finally, Morgan Stanley boosted their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.00.

Insiders Place Their Bets

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’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 of the company’s stock, valued at approximately $5,645,605.99. This trade represents a 8.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company 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.