Segall Bryant & Hamill LLC Cuts Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Segall Bryant & Hamill LLC reduced its stake in Jackson Financial Inc. (NYSE:JXN) by 11.0% during the 3rd quarter, Holdings Channel reports. The fund owned 76,225 shares of the company’s stock after selling 9,413 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Jackson Financial were worth $6,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd acquired a new stake in Jackson Financial in the 1st quarter valued at about $866,000. Lazard Asset Management LLC increased its stake in shares of Jackson Financial by 10.1% during the first quarter. Lazard Asset Management LLC now owns 261,981 shares of the company’s stock worth $17,326,000 after buying an additional 24,041 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Jackson Financial by 5.3% in the first quarter. Public Employees Retirement System of Ohio now owns 48,241 shares of the company’s stock valued at $3,191,000 after acquiring an additional 2,436 shares in the last quarter. Paloma Partners Management Co purchased a new position in Jackson Financial in the first quarter worth approximately $294,000. Finally, Caxton Associates LP grew its holdings in Jackson Financial by 1.7% during the 1st quarter. Caxton Associates LP now owns 91,414 shares of the company’s stock worth $6,046,000 after acquiring an additional 1,494 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on JXN shares. Barclays lifted their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Jefferies Financial Group upped their price objective on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Morgan Stanley raised their target price on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods upped their price target on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Finally, Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.00.

Jackson Financial Stock Up 0.4 %

JXN stock opened at $98.89 on Friday. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -7.82 and a beta of 1.48. The company has a fifty day moving average price of $97.32 and a 200 day moving average price of $85.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a 12 month low of $45.57 and a 12 month high of $115.22.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm earned $3.80 earnings per share. Sell-side analysts expect that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 annualized dividend and a yield of 2.83%. Jackson Financial’s dividend payout ratio is currently -22.15%.

Jackson Financial declared that its Board of Directors has authorized 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 buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Carrie Chelko sold 5,500 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction 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 represents a 8.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.30% of the stock is owned by insiders.

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.