Lighthouse Investment Partners LLC Makes New Investment in Jackson Financial Inc. (NYSE:JXN)

Lighthouse Investment Partners LLC purchased a new position in Jackson Financial Inc. (NYSE:JXN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,064 shares of the company’s stock, valued at approximately $1,564,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Hantz Financial Services Inc. acquired a new position in shares of Jackson Financial in the 2nd quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 period. GAMMA Investing LLC increased its holdings in shares of Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. Kapitalo Investimentos Ltda purchased a new position in shares of Jackson Financial in the fourth quarter worth about $57,000. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Jackson Financial during the first quarter worth about $66,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Trading Up 1.1 %

Shares of Jackson Financial stock opened at $91.35 on Friday. The firm has a 50-day simple moving average of $84.93 and a two-hundred day simple moving average of $76.08. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a fifty-two week low of $35.27 and a fifty-two week high of $92.65. The company has a market cap of $6.87 billion, a P/E ratio of 2.41 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company posted $3.34 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts predict that Jackson Financial Inc. will post 18.49 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors 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 dividend on an annualized basis and a yield of 3.07%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Jackson Financial declared that its board has authorized a stock repurchase plan on Wednesday, August 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on JXN shares. Jefferies Financial Group raised their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Morgan Stanley raised their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Barclays assumed coverage on shares of Jackson Financial in a report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 price target on the stock. Keefe, Bruyette & Woods lifted 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, Evercore ISI lowered their target price on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.

Insider Buying and Selling

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the 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 transaction, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by 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.