Tidal Investments LLC Takes $1.73 Million Position in Jackson Financial Inc. (NYSE:JXN)

Tidal Investments LLC acquired a new stake in Jackson Financial Inc. (NYSE:JXN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,997 shares of the company’s stock, valued at approximately $1,733,000.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Jackson Financial by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock worth $332,035,000 after purchasing an additional 163,598 shares in the last quarter. State Street Corp grew its stake in Jackson Financial by 4.9% during the 3rd quarter. State Street Corp now owns 3,266,981 shares of the company’s stock worth $298,047,000 after purchasing an additional 153,326 shares in the last quarter. Geode Capital Management LLC grew its stake in Jackson Financial by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock worth $194,187,000 after purchasing an additional 144,530 shares in the last quarter. American Century Companies Inc. grew its stake in Jackson Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock worth $120,529,000 after purchasing an additional 98,792 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after purchasing an additional 724,148 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Trading Down 2.3 %

NYSE:JXN opened at $90.36 on Wednesday. The stock has a 50-day simple moving average of $100.05 and a 200-day simple moving average of $88.05. The stock has a market cap of $6.67 billion, a P/E ratio of -7.15 and a beta of 1.42. Jackson Financial Inc. has a 1 year low of $47.49 and a 1 year high of $115.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.07). The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $3.80 earnings per share. As a group, analysts anticipate that Jackson Financial Inc. will post 18.8 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, December 5th. Jackson Financial’s payout ratio is currently -22.15%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays boosted their target price on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Evercore ISI cut Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $74.00 to $95.00 in a research note 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. According to data from MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and a consensus price target of $84.00.

Insider Activity

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory T. Durant acquired 1,500 shares of Jackson Financial stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $90.28 per share, with a total value of $135,420.00. Following the completion of the purchase, the director now owns 32,023 shares in the company, valued at $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

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.