Harmony Asset Management LLC Purchases 944 Shares of Jackson Financial Inc. (NYSE:JXN)

Harmony Asset Management LLC grew its holdings in Jackson Financial Inc. (NYSE:JXN) by 12.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,770 shares of the company’s stock after buying an additional 944 shares during the quarter. Harmony Asset Management LLC’s holdings in Jackson Financial were worth $800,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in JXN. Hantz Financial Services Inc. bought a new stake in Jackson Financial in the second quarter worth $25,000. Blue Trust Inc. raised its holdings in Jackson Financial by 232.1% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after acquiring an additional 260 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after acquiring an additional 316 shares during the last quarter. GAMMA Investing LLC lifted its stake in Jackson Financial by 60.8% in the second quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock worth $58,000 after acquiring an additional 293 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after acquiring an additional 457 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

JXN stock opened at $100.38 on Tuesday. The business’s 50-day moving average is $99.54 and its 200 day moving average is $86.83. Jackson Financial Inc. has a 12-month low of $46.96 and a 12-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 issued 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 quarter in the prior year, the company earned $3.80 EPS. As a group, equities analysts expect that Jackson Financial Inc. will post 18.8 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.70 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.79%. Jackson Financial’s payout ratio is -22.15%.

Jackson Financial announced that its Board of Directors has authorized a share buyback program on Wednesday, August 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JXN. Barclays increased their price target 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. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods raised their price objective 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, Morgan Stanley boosted their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.00.

Insider Buying and Selling at Jackson Financial

In related news, EVP Carrie Chelko sold 5,500 shares of the business’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 value of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 8.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

About Jackson Financial

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.