Vise Technologies Inc. Purchases 8,612 Shares of Jackson Financial Inc. $JXN

Key Points

• Vise Technologies increased its Jackson Financial stake by 80.7% in the third quarter, buying 8,612 shares to hold 19,288 shares valued at about $2.49 million.
• Jackson Financial reported quarterly earnings of $7.55 per share, beating analyst estimates of $7.24; revenue was $2.07 billion, in line with expectations.
• The company declared a quarterly dividend of $0.90 per share, equivalent to a 2.7% yield. Analysts’ consensus rating was Hold, with an average price target of $134.80.

Vise Technologies Inc. grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 80.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,288 shares of the company's stock after purchasing an additional 8,612 shares during the period. Vise Technologies Inc.'s holdings in Jackson Financial were worth $2,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC boosted its position in shares of Jackson Financial by 345.0% in the 3rd quarter. International Assets Investment Management LLC now owns 54,504 shares of the company's stock valued at $7,048,000 after purchasing an additional 42,257 shares during the period. Partners Wealth Management LLC purchased a new stake in shares of Jackson Financial in the third quarter valued at $596,000. VestGen Advisors LLC acquired a new stake in shares of Jackson Financial in the third quarter worth $223,000. Park Avenue Securities LLC raised its position in Jackson Financial by 6.3% during the third quarter. Park Avenue Securities LLC now owns 2,342 shares of the company's stock valued at $303,000 after buying an additional 139 shares during the period. Finally, Brucke Financial Inc. lifted its stake in Jackson Financial by 8.5% in the 3rd quarter. Brucke Financial Inc. now owns 3,436 shares of the company's stock worth $444,000 after acquiring an additional 268 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of JXN stock opened at $132.81 on Friday. Jackson Financial Inc. has a 12 month low of $89.67 and a 12 month high of $150.00. The company has a market capitalization of $8.99 billion, a P/E ratio of 10.92 and a beta of 1.34. The stock has a 50 day moving average of $133.50 and a two-hundred day moving average of $118.53. The company has a current ratio of 0.22, a quick ratio of 0.26 and a debt-to-equity ratio of 0.62.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $7.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.24 by $0.31. Jackson Financial had a net margin of 13.41% and a return on equity of 20.46%. The company had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.07 billion.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, December 3rd. Jackson Financial's dividend payout ratio is currently 29.61%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Evercore set a $135.00 price target on shares of Jackson Financial in a report on Wednesday, August 5th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $140.00 price target on shares of Jackson Financial in a research note on Friday, September 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Jackson Financial in a research note on Monday. Wall Street Zen raised Jackson Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Jefferies Financial Group raised shares of Jackson Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $134.80.

Insiders Place Their Bets

In other Jackson Financial news, CEO Christopher Raub sold 5,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the transaction, the chief executive officer directly owned 42,160 shares in the company, valued at $5,509,890.40. This represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services company focused on helping individuals and institutions pursue retirement security. Through its operating subsidiaries, the company develops and distributes annuity products designed to provide income, investment growth opportunities and protection against certain retirement-related risks.

Jackson's offerings include variable annuities, fixed annuities and fixed-indexed annuities, along with related retirement planning solutions.

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