Burns Matteson Capital Management LLC Purchases Shares of 4,314 Jackson Financial Inc. (NYSE:JXN)

Burns Matteson Capital Management LLC purchased a new stake in Jackson Financial Inc. (NYSE:JXN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,314 shares of the company’s stock, valued at approximately $394,000.

Other hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new stake in Jackson Financial in the second quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Jackson Financial by 400.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after acquiring an additional 154 shares during the period. Valued Wealth Advisors LLC purchased a new position in shares of Jackson Financial in the 1st quarter valued at about $66,000. Finally, CWM LLC increased its stake in shares of Jackson Financial by 80.5% in the 2nd quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after purchasing an additional 457 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on JXN shares. Barclays raised their price objective on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday. Jefferies Financial Group upped their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods lifted 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 report on Wednesday, August 14th. Morgan Stanley upped their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Finally, Evercore ISI reduced their price objective on 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.com, Jackson Financial presently has an average rating of “Hold” and a consensus target price of $80.33.

Insider Buying and Selling at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the company’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 value of $502,205.00. Following the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Jackson Financial Price Performance

NYSE JXN traded up $0.96 during trading hours on Friday, hitting $99.01. 564,445 shares of the company’s stock traded hands, compared to its average volume of 740,345. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $7.45 billion, a PE ratio of 3.66 and a beta of 1.50. The firm’s 50-day moving average is $86.51 and its 200-day moving average is $78.08. Jackson Financial Inc. has a 52-week low of $36.06 and a 52-week high of $100.28.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, beating the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 earnings per share. Equities analysts forecast that Jackson Financial Inc. will post 18.59 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 2.83%. Jackson Financial’s payout ratio is 10.34%.

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

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.