Verition Fund Management LLC Decreases Position in Jackson Financial Inc. (NYSE:JXN)

Verition Fund Management LLC cut its position in Jackson Financial Inc. (NYSE:JXN) by 7.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,676 shares of the company’s stock after selling 572 shares during the period. Verition Fund Management LLC’s holdings in Jackson Financial were worth $609,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Jackson Financial by 9,363.9% during the third quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock valued at $85,942,000 after purchasing an additional 932,085 shares during the last quarter. Acadian Asset Management LLC raised its holdings 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 valued at $90,525,000 after purchasing an additional 724,148 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Jackson Financial during the third quarter valued at approximately $40,795,000. LSV Asset Management raised its holdings in shares of Jackson Financial by 2,459.7% during the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after purchasing an additional 422,175 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock valued at $95,874,000 after purchasing an additional 300,520 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

JXN opened at $89.93 on Wednesday. The firm has a market cap of $6.64 billion, a P/E ratio of -7.11 and a beta of 1.42. Jackson Financial Inc. has a 1-year low of $47.49 and a 1-year high of $115.22. The company has a 50 day simple moving average of $100.27 and a two-hundred day simple moving average of $87.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

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

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Jackson Financial’s payout ratio is currently -22.15%.

Insiders Place Their Bets

In related news, EVP Carrie Chelko sold 5,500 shares of the company’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 transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JXN shares. Keefe, Bruyette & Woods boosted their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Morgan Stanley boosted their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Finally, Barclays boosted their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and a consensus target price 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.