Wealthfront Advisers LLC acquired a new position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 18,998 shares of the company's stock, valued at approximately $1,654,000.
A number of other large investors also recently bought and sold shares of JXN. Raymond James Financial Inc. purchased a new position in Jackson Financial during the 4th quarter worth $27,193,000. Charles Schwab Investment Management Inc. raised its position in Jackson Financial by 40.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company's stock worth $95,874,000 after buying an additional 300,520 shares during the last quarter. Victory Capital Management Inc. raised its position in Jackson Financial by 196.4% during the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company's stock worth $38,946,000 after buying an additional 296,367 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Jackson Financial by 6,642.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company's stock worth $19,716,000 after buying an additional 223,060 shares during the last quarter. Finally, Four Tree Island Advisory LLC purchased a new position in Jackson Financial during the 4th quarter worth $19,298,000. Hedge funds and other institutional investors own 89.96% of the company's stock.
Insider Activity at Jackson Financial
In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
JXN has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $103.00 to $105.00 and gave the stock a "market perform" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $97.40.
Check Out Our Latest Report on JXN
Jackson Financial Price Performance
Shares of NYSE:JXN traded up $3.48 on Friday, reaching $82.84. 755,943 shares of the company were exchanged, compared to its average volume of 640,962. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 7.24 and a beta of 1.48. Jackson Financial Inc. has a 1-year low of $60.99 and a 1-year high of $115.22. The company has a 50-day moving average of $89.81 and a 200-day moving average of $92.81. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46.
Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.81 billion. Equities analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.
Jackson Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.86%. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, March 11th. Jackson Financial's dividend payout ratio is presently 27.95%.
About Jackson Financial
(
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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