JPMorgan Chase & Co. Has $56.65 Million Stake in Jackson Financial Inc. (NYSE:JXN)

JPMorgan Chase & Co. raised its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 33.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 650,544 shares of the company's stock after buying an additional 164,800 shares during the quarter. JPMorgan Chase & Co. owned about 0.88% of Jackson Financial worth $56,649,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Empowered Funds LLC acquired a new position in shares of Jackson Financial during the 4th quarter valued at about $26,000. World Investment Advisors LLC acquired a new position in shares of Jackson Financial during the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Jackson Financial during the 4th quarter valued at about $44,000. Blue Trust Inc. boosted its position in shares of Jackson Financial by 114.5% during the 4th quarter. Blue Trust Inc. now owns 798 shares of the company's stock valued at $69,000 after acquiring an additional 426 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Jackson Financial during the 4th quarter valued at about $126,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Buying and Selling 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 transaction of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Craig Donald Smith sold 20,607 shares of Jackson Financial stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $69.52, for a total value of $1,432,598.64. Following the completion of the transaction, the chief executive officer now directly owns 116,423 shares in the company, valued at $8,093,726.96. This represents a 15.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on JXN shares. Barclays upped their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods cut their target price on shares of Jackson Financial from $105.00 to $90.00 and set a "market perform" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $94.40.

Jackson Financial Stock Performance

Shares of NYSE JXN traded down $4.38 during mid-day trading on Thursday, hitting $73.19. 134,049 shares of the company were exchanged, compared to its average volume of 748,326. 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 stock has a 50 day simple moving average of $85.46 and a 200-day simple moving average of $92.14. Jackson Financial Inc. has a 1-year low of $62.81 and a 1-year high of $115.22. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 6.39 and a beta of 1.49.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.81 billion. On average, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 4.37%. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's dividend payout ratio (DPR) is 27.95%.

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.