Harvest Fund Management Co. Ltd Buys Shares of 4,683 Jackson Financial Inc. (NYSE:JXN)

Harvest Fund Management Co. Ltd purchased a new stake in Jackson Financial Inc. (NYSE:JXN) in the third quarter, Holdings Channel.com reports. The fund purchased 4,683 shares of the company’s stock, valued at approximately $427,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. acquired a new stake in shares of Jackson Financial during the 2nd quarter valued at approximately $25,000. Blue Trust Inc. boosted its position in Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after purchasing an additional 260 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after purchasing an additional 316 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Jackson Financial by 60.8% in the second quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock valued at $58,000 after buying an additional 293 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Jackson Financial by 80.5% during the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock worth $76,000 after buying an additional 457 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling

In other news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The trade was a 8.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Jackson Financial Trading Down 0.8 %

Shares of JXN opened at $102.40 on Wednesday. Jackson Financial Inc. has a fifty-two week low of $46.05 and a fifty-two week high of $115.22. The stock has a fifty day moving average of $98.39 and a two-hundred day moving average of $85.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $7.56 billion, a PE ratio of -8.10 and a beta of 1.48.

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

Jackson Financial announced that its board has initiated a share buyback program on Wednesday, August 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.70 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. Jackson Financial’s payout ratio is -22.15%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and raised their target price for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. 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 note on Monday, August 19th. Finally, Barclays increased their target price on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and an average price target of $84.00.

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.