Harvest Fund Management Co. Ltd Makes New Investment in Jackson Financial Inc. (NYSE:JXN)

Harvest Fund Management Co. Ltd acquired a new stake in Jackson Financial Inc. (NYSE:JXN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,683 shares of the company’s stock, valued at approximately $427,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centaurus Financial Inc. lifted its stake in Jackson Financial by 135.1% in the third quarter. Centaurus Financial Inc. now owns 10,169 shares of the company’s stock worth $928,000 after acquiring an additional 5,844 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Jackson Financial by 84.8% during the 3rd quarter. Cerity Partners LLC now owns 8,022 shares of the company’s stock worth $732,000 after purchasing an additional 3,681 shares during the last quarter. Citigroup Inc. grew its stake in shares of Jackson Financial by 130.5% during the third quarter. Citigroup Inc. now owns 138,374 shares of the company’s stock worth $12,624,000 after purchasing an additional 78,344 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Jackson Financial by 40.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock valued at $95,874,000 after buying an additional 300,520 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Jackson Financial by 1.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 130,137 shares of the company’s stock valued at $11,872,000 after buying an additional 2,191 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the firm’s 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 completion of the sale, the executive vice president now owns 61,829 shares in the company, valued at approximately $5,645,605.99. This trade represents a 8.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

JXN has been the topic of a number of recent analyst reports. Barclays increased their price objective on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted 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 report on Wednesday, August 14th. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Finally, Morgan Stanley lifted 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 note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Jackson Financial presently has an average rating of “Hold” and an average price target of $84.00.

Jackson Financial Price Performance

JXN stock opened at $102.40 on Wednesday. The business has a 50 day simple moving average of $98.39 and a 200-day simple moving average of $85.95. The company has a market capitalization of $7.56 billion, a P/E ratio of -8.10 and a beta of 1.48. Jackson Financial Inc. has a twelve month low of $46.05 and a twelve month high of $115.22. 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 quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $3.80 EPS. As a group, equities analysts anticipate that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial announced that its Board of Directors has authorized a share 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 reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Jackson Financial Announces Dividend

The business 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 dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, December 5th. Jackson Financial’s dividend payout ratio is presently -22.15%.

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.