Norges Bank acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,134,208 shares of the company's stock, valued at approximately $98,767,000. Norges Bank owned about 1.54% of Jackson Financial at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in Jackson Financial by 9.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 48,918 shares of the company's stock valued at $4,463,000 after buying an additional 4,290 shares during the last quarter. FMR LLC raised its position in Jackson Financial by 106.0% in the 3rd quarter. FMR LLC now owns 174,505 shares of the company's stock valued at $15,920,000 after buying an additional 89,798 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in Jackson Financial by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,362 shares of the company's stock valued at $307,000 after acquiring an additional 411 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Jackson Financial by 2.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,631 shares of the company's stock worth $2,521,000 after acquiring an additional 714 shares during the last quarter. 89.96% of the stock is owned by institutional investors.
Jackson Financial Stock Performance
JXN traded down $11.25 during trading on Thursday, hitting $75.93. 1,177,306 shares of the company traded hands, compared to its average volume of 738,199. Jackson Financial Inc. has a one year low of $62.81 and a one year high of $115.22. The stock's fifty day moving average is $88.47 and its 200 day moving average is $92.91. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.52 billion, a P/E ratio of 6.63 and a beta of 1.48.
Jackson Financial (NYSE:JXN - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.81 billion. As a group, equities analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.
Jackson Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a $0.80 dividend. The ex-dividend date was Tuesday, March 11th. This is a positive change from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 4.21%. Jackson Financial's payout ratio is presently 27.95%.
Insider Activity
In related news, CEO Scott Romine sold 7,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at approximately $7,199,852.68. This represents a 7.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company's stock.
Analyst Ratings Changes
JXN has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $103.00 to $105.00 and gave the stock a "market perform" rating in a report on Friday, February 28th. Barclays boosted their target price on Jackson Financial from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $97.40.
Check Out Our Latest Stock Report on Jackson Financial
Jackson Financial Profile
(
Free Report)
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.
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