Easterly Investment Partners LLC Boosts Holdings in Jackson Financial Inc. (NYSE:JXN)

Easterly Investment Partners LLC grew its holdings in Jackson Financial Inc. (NYSE:JXN) by 15.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 136,306 shares of the company’s stock after purchasing an additional 18,039 shares during the quarter. Easterly Investment Partners LLC owned 0.18% of Jackson Financial worth $12,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Jackson Financial by 0.3% in the third quarter. Principal Financial Group Inc. now owns 407,104 shares of the company’s stock valued at $37,140,000 after acquiring an additional 1,152 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $238,000. Amalgamated Bank increased its holdings in shares of Jackson Financial by 6.0% in the 3rd quarter. Amalgamated Bank now owns 22,251 shares of the company’s stock valued at $2,030,000 after acquiring an additional 1,254 shares during the period. Asset Management One Co. Ltd. acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $1,504,000. Finally, Innealta Capital LLC purchased a new position in Jackson Financial in the 3rd quarter valued at $383,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

NYSE:JXN traded down $3.64 during mid-day trading on Friday, hitting $107.35. The company’s stock had a trading volume of 153,916 shares, compared to its average volume of 733,469. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 4.10 and a beta of 1.48. The stock has a fifty day moving average of $93.64 and a 200-day moving average of $83.00. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a fifty-two week low of $41.61 and a fifty-two week high of $115.09.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.66 by ($0.06). The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $3.80 earnings per share. As a group, equities analysts forecast that Jackson Financial Inc. will post 18.78 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s payout ratio is 10.34%.

Jackson Financial announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

About Jackson Financial

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.