Centaurus Financial Inc. Boosts Stock Position in Jackson Financial Inc. (NYSE:JXN)

Centaurus Financial Inc. increased its position in Jackson Financial Inc. (NYSE:JXN) by 135.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,169 shares of the company’s stock after acquiring an additional 5,844 shares during the quarter. Centaurus Financial Inc.’s holdings in Jackson Financial were worth $928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JXN. International Assets Investment Management LLC increased its stake in Jackson Financial by 9,363.9% in 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 in the last quarter. Acadian Asset Management LLC grew its position 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 purchasing an additional 724,148 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Jackson Financial during the 3rd quarter valued at approximately $40,795,000. LSV Asset Management lifted its holdings in Jackson Financial by 2,459.7% in the 2nd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Jackson Financial by 40.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock worth $95,874,000 after purchasing an additional 300,520 shares during the period. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on JXN shares. 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 report on Wednesday, August 14th. Jefferies Financial Group increased their price objective 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. Morgan Stanley lifted their target price on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Barclays increased their price target on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and a consensus target price of $84.00.

Insider Buying and Selling

In other news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was 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. This represents a 8.17 % decrease in their ownership of the stock. 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 corporate insiders.

Jackson Financial Trading Up 1.3 %

Shares of JXN stock opened at $103.22 on Tuesday. The company has a market cap of $7.62 billion, a PE ratio of -8.17 and a beta of 1.48. 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 stock’s 50 day simple moving average is $98.02 and its two-hundred day simple moving average is $85.78. Jackson Financial Inc. has a 1 year low of $46.05 and a 1 year high of $115.22.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $3.80 EPS. Research analysts predict that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 annualized dividend and a yield of 2.71%. Jackson Financial’s payout ratio is -22.15%.

Jackson Financial announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Jackson Financial 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.