KLP Kapitalforvaltning AS purchased 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 filing with the Securities and Exchange Commission. The institutional investor purchased 21,300 shares of the company's stock, valued at approximately $1,855,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Jackson Financial by 7.1% during the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock worth $155,000 after buying an additional 118 shares during the period. Janney Montgomery Scott LLC raised its stake in Jackson Financial by 0.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 50,707 shares of the company's stock valued at $4,416,000 after acquiring an additional 168 shares during the last quarter. Caprock Group LLC lifted its position in Jackson Financial by 4.3% during the 4th quarter. Caprock Group LLC now owns 4,218 shares of the company's stock worth $367,000 after acquiring an additional 173 shares during the period. IFP Advisors Inc grew its stake in shares of Jackson Financial by 7.2% in the 4th quarter. IFP Advisors Inc now owns 2,692 shares of the company's stock valued at $234,000 after purchasing an additional 180 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Jackson Financial by 1.1% in the fourth quarter. Axxcess Wealth Management LLC now owns 18,048 shares of the company's stock valued at $1,572,000 after purchasing an additional 193 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $103.00 to $105.00 and gave the stock a "market perform" rating in a report on Friday, February 28th. Barclays upped their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $97.40.
Read Our Latest Stock Analysis on JXN
Insider Transactions at Jackson Financial
In related news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.
Jackson Financial Price Performance
Shares of JXN traded up $0.57 during mid-day trading on Tuesday, hitting $84.35. The company's stock had a trading volume of 954,518 shares, compared to its average volume of 734,584. The firm has a 50-day simple moving average of $88.63 and a 200 day simple moving average of $92.95. Jackson Financial Inc. has a 1-year low of $62.81 and a 1-year high of $115.22. The firm has a market capitalization of $6.13 billion, a P/E ratio of 7.37 and a beta of 1.48. 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 released its earnings results 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. Analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.
Jackson Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.80 per share. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial's dividend payout ratio (DPR) is currently 27.95%.
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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