Innealta Capital LLC Makes New Investment in Jackson Financial Inc. (NYSE:JXN)

Innealta Capital LLC acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN) in the third quarter, Holdings Channel.com reports. The firm acquired 4,194 shares of the company’s stock, valued at approximately $383,000.

Other large investors have also made changes to their positions in the company. Cetera Investment Advisers acquired a new position in shares of Jackson Financial during the first quarter valued at about $3,812,000. FORA Capital LLC raised its position in shares of Jackson Financial by 399.7% during 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 last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Jackson Financial by 32.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after buying an additional 14,848 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake 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 valued at $2,714,000 after acquiring an additional 5,819 shares during the period. Finally, UniSuper Management Pty Ltd bought a new stake in Jackson Financial in the first quarter valued at about $866,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the 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 $5,645,605.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of 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 upped 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. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Finally, Barclays upped their price objective 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. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.33.

Jackson Financial Price Performance

JXN opened at $98.32 on Monday. Jackson Financial Inc. has a one year low of $37.74 and a one year high of $104.05. 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’s 50 day simple moving average is $92.08 and its 200-day simple moving average is $82.10. The stock has a market capitalization of $7.40 billion, a P/E ratio of 3.63 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating the consensus estimate of $4.32 by $1.00. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $3.34 earnings per share. Jackson Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Jackson Financial Inc. will post 18.78 earnings per share for the current fiscal year.

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

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors 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 2.85%. Jackson Financial’s dividend payout ratio is currently 10.34%.

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.