Wedge Capital Management L L P NC Purchases Shares of 447,171 Jackson Financial Inc. (NYSE:JXN)

Wedge Capital Management L L P NC purchased a new stake in shares of Jackson Financial Inc. (NYSE:JXN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 447,171 shares of the company’s stock, valued at approximately $40,795,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Hantz Financial Services Inc. bought a new position in Jackson Financial in the second quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in Jackson Financial by 400.0% in 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 in the last quarter. GAMMA Investing LLC boosted its stake in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Jackson Financial in the fourth quarter worth $57,000. Finally, Valued Wealth Advisors LLC bought a new stake in Jackson Financial during the 1st quarter valued at about $66,000. 89.96% of the stock is owned by institutional investors.

Insider Activity

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Jackson Financial Stock Performance

Shares of JXN stock traded down $0.10 during mid-day trading on Monday, reaching $98.91. 127,976 shares of the company’s stock traded hands, compared to its average volume of 737,139. Jackson Financial Inc. has a 12 month low of $36.06 and a 12 month high of $100.28. The firm has a 50 day moving average price of $86.97 and a two-hundred day moving average price of $78.50. The firm has a market capitalization of $7.54 billion, a PE ratio of 2.61 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $3.34 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, research analysts forecast that Jackson Financial Inc. will post 18.59 EPS for the current year.

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

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a $0.70 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.83%. Jackson Financial’s payout ratio is currently 7.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on JXN shares. Barclays upped their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upped 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. Jefferies Financial Group lifted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Morgan Stanley increased their price objective on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Evercore ISI cut their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Jackson Financial currently has an average rating of “Hold” and a consensus price target of $80.33.

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.