MorganRosel Wealth Management LLC Takes Position in Jackson Financial Inc. (NYSE:JXN)

MorganRosel Wealth Management LLC bought a new position in Jackson Financial Inc. (NYSE:JXN) during the third quarter, according to its most recent filing with the SEC. The firm bought 16,783 shares of the company’s stock, valued at approximately $1,531,000.

Other large investors also recently modified their holdings of the company. Asset Allocation Strategies LLC raised 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 valued at $1,405,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC increased its stake in Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after buying an additional 154 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Jackson Financial by 1.2% during the 2nd quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after buying an additional 178 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of 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 buying an additional 199 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Jackson Financial by 18.1% in the first quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock valued at $101,000 after acquiring an additional 235 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JXN has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Morgan Stanley increased their price target 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. Evercore ISI lowered their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods boosted 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. Finally, Barclays raised their target price on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $80.33.

Jackson Financial Trading Up 1.0 %

Shares of Jackson Financial stock opened at $99.01 on Friday. The company’s 50-day moving average price is $86.97 and its 200-day moving average price is $78.41. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 3.66 and a beta of 1.50. Jackson Financial Inc. has a 12-month low of $36.06 and a 12-month high of $100.28. 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 (NYSE:JXN) last posted its earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping the consensus estimate of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm earned $3.34 earnings per share. Jackson Financial’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts expect that Jackson Financial Inc. will post 18.59 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

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

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

Insider Buying and Selling at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the 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 transaction, the executive vice president now owns 61,829 shares of the company’s stock, valued at $5,645,605.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

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.