Marcum Wealth LLC Takes $279,000 Position in Jackson Financial Inc. (NYSE:JXN)

Marcum Wealth LLC acquired a new position in Jackson Financial Inc. (NYSE:JXN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,056 shares of the company’s stock, valued at approximately $279,000.

Several other hedge funds have also recently bought and sold shares of JXN. Cetera Investment Advisers bought a new position in Jackson Financial in the 1st quarter valued at about $3,812,000. FORA Capital LLC lifted its holdings in shares of Jackson Financial by 399.7% in the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock valued at $1,845,000 after buying an additional 22,312 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Jackson Financial by 32.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock worth $4,044,000 after acquiring an additional 14,848 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Jackson Financial by 16.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after acquiring an additional 5,819 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in shares of Jackson Financial during the 1st quarter valued at about $866,000. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on JXN shares. Morgan Stanley increased 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. Jefferies Financial Group increased their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective 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 boosted their price target on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Evercore ISI decreased their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.33.

Insider Transactions at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the transaction, the executive vice president now directly owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Jackson Financial Stock Down 1.0 %

Shares of Jackson Financial stock opened at $98.05 on Friday. Jackson Financial Inc. has a 12-month low of $36.06 and a 12-month high of $99.96. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $86.51 and a two-hundred day moving average price of $78.08. The stock has a market capitalization of $7.48 billion, a P/E ratio of 2.59 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.71 billion. Jackson Financial’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.34 earnings per share. Equities analysts expect that Jackson Financial Inc. will post 18.49 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.86%. Jackson Financial’s payout ratio is 7.40%.

Jackson Financial announced that its board has approved a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.