Meriwether Wealth & Planning LLC purchased a new stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,738 shares of the company's stock, valued at approximately $413,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC bought a new position in Jackson Financial in the 4th quarter worth approximately $26,000. World Investment Advisors LLC acquired a new position in Jackson Financial during the 3rd quarter valued at $31,000. SBI Securities Co. Ltd. bought a new stake in Jackson Financial in the 4th quarter valued at $44,000. Blue Trust Inc. grew its position in Jackson Financial by 114.5% in the 4th quarter. Blue Trust Inc. now owns 798 shares of the company's stock worth $69,000 after purchasing an additional 426 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Jackson Financial during the 4th quarter worth about $126,000. 89.96% of the stock is owned by institutional investors and hedge funds.
Jackson Financial Price Performance
JXN stock traded down $1.10 during trading on Thursday, hitting $79.44. 1,009,157 shares of the stock traded hands, compared to its average volume of 666,790. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 6.94 and a beta of 1.48. Jackson Financial Inc. has a one year low of $60.54 and a one year high of $115.22. The company has a 50 day simple moving average of $90.10 and a 200 day simple moving average of $92.88.
Jackson Financial (NYSE:JXN - Get Free Report) last posted 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Equities analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.
Jackson Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.03%. Jackson Financial's payout ratio is currently 27.95%.
Insider Transactions at Jackson Financial
In related news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.
Analyst Ratings Changes
JXN has been the topic of several research reports. Evercore ISI cut Jackson Financial from an "in-line" rating to an "underperform" rating and upped their price target for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays raised their target price on Jackson Financial from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $103.00 to $105.00 and gave the company a "market perform" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $97.40.
Check Out Our Latest Stock Report on Jackson Financial
Jackson Financial Company 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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