State of Alaska Department of Revenue Acquires 3,074 Shares of Jackson Financial Inc. (NYSE:JXN)

State of Alaska Department of Revenue boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,936 shares of the company’s stock after purchasing an additional 3,074 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Jackson Financial worth $3,917,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JXN. Hantz Financial Services Inc. bought a new position in Jackson Financial during the second quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its stake in Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the period. Blue Trust Inc. lifted its stake 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 during the period. GAMMA Investing LLC lifted its stake in Jackson Financial by 60.8% during the second quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock worth $58,000 after purchasing an additional 293 shares during the period. Finally, Headlands Technologies LLC raised its stake in shares of Jackson Financial by 41.2% in the first quarter. Headlands Technologies LLC now owns 1,055 shares of the company’s stock valued at $70,000 after acquiring an additional 308 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $102.78 on Thursday. 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 firm has a market cap of $7.73 billion, a P/E ratio of 3.80 and a beta of 1.50. The firm has a 50 day simple moving average of $91.16 and a 200 day simple moving average of $81.33. Jackson Financial Inc. has a fifty-two week low of $36.06 and a fifty-two week high of $104.05.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.34 EPS. Sell-side analysts predict that Jackson Financial Inc. will post 18.78 earnings per share for the current fiscal year.

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

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio is presently 10.34%.

Insiders Place Their Bets

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of Jackson Financial 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 owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on JXN. Morgan Stanley lifted their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Barclays lifted their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and an average target price of $80.33.

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.