Commonwealth Equity Services LLC Sells 40,079 Shares of Jackson Financial Inc. $JXN

Commonwealth Equity Services LLC trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 28.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,301 shares of the company’s stock after selling 40,079 shares during the quarter. Commonwealth Equity Services LLC owned 0.15% of Jackson Financial worth $10,356,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of JXN. Norges Bank acquired a new position in shares of Jackson Financial in the 2nd quarter valued at $102,131,000. LSV Asset Management raised its position in Jackson Financial by 28.3% in the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock worth $74,250,000 after purchasing an additional 184,440 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Jackson Financial by 27.5% during the second quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after purchasing an additional 143,091 shares during the period. Invesco Ltd. boosted its holdings in Jackson Financial by 21.3% during the second quarter. Invesco Ltd. now owns 719,575 shares of the company’s stock valued at $63,891,000 after purchasing an additional 126,264 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Jackson Financial by 188.6% during the second quarter. Teacher Retirement System of Texas now owns 184,485 shares of the company’s stock valued at $16,380,000 after purchasing an additional 120,561 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analysts Set New Price Targets

JXN has been the subject of several analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Morgan Stanley set a $105.00 price objective on Jackson Financial in a report on Monday, December 15th. Evercore ISI set a $118.00 target price on shares of Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Barclays reissued an “overweight” rating and set a $137.00 price target on shares of Jackson Financial in a report on Thursday. Finally, Zacks Research upgraded shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.00.

Jackson Financial Stock Up 0.1%

Shares of NYSE JXN opened at $117.39 on Monday. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $118.18. The firm’s 50-day simple moving average is $101.69 and its 200 day simple moving average is $97.12. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The company has a market cap of $7.98 billion, a price-to-earnings ratio of 16.24 and a beta of 1.44.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. The company had revenue of ($1,162.00) million during the quarter. On average, research analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, December 4th. Jackson Financial’s payout ratio is 44.26%.

Jackson Financial announced that its board has authorized a share repurchase program on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 14.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.