Pathstone Holdings LLC Trims Position in Jackson Financial Inc. (NYSE:JXN)

Pathstone Holdings LLC trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 26.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,542 shares of the company’s stock after selling 6,720 shares during the period. Pathstone Holdings LLC’s holdings in Jackson Financial were worth $1,692,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Asset Allocation Strategies LLC boosted its holdings in shares of Jackson Financial by 0.6% in the second quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock worth $1,405,000 after buying an additional 119 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Jackson Financial by 1.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock valued at $1,032,000 after acquiring an additional 159 shares during the period. Private Advisor Group LLC increased its stake in shares of Jackson Financial by 1.2% in the 2nd quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after purchasing an additional 178 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Jackson Financial by 2.0% in the 2nd quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock worth $739,000 after purchasing an additional 199 shares during the period. Finally, Blue Trust Inc. lifted its position in Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after purchasing an additional 260 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Activity at Jackson Financial

In related 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 value of $502,205.00. Following the sale, the executive vice president now owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Price Performance

JXN stock opened at $100.03 on Thursday. 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’s fifty day moving average price is $98.72 and its 200-day moving average price is $86.14. Jackson Financial Inc. has a one year low of $46.70 and a one year high of $115.22. The company has a market capitalization of $7.39 billion, a PE ratio of -8.00 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $3.80 EPS. On average, equities analysts anticipate that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial announced that its board has authorized a share repurchase program on Wednesday, August 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on JXN shares. Morgan Stanley upped their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods raised their target price 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. Barclays upped their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.00.

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.