New York Life Investment Management LLC Makes New $689,000 Investment in Jackson Financial Inc. (NYSE:JXN)

New York Life Investment Management LLC acquired a new position 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 firm acquired 7,908 shares of the company's stock, valued at approximately $689,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Creative Planning lifted its position in shares of Jackson Financial by 10.2% during the 3rd quarter. Creative Planning now owns 4,041 shares of the company's stock valued at $369,000 after buying an additional 373 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Jackson Financial by 10.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,047 shares of the company's stock worth $369,000 after acquiring an additional 396 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Jackson Financial by 2.4% in the 3rd quarter. New York State Teachers Retirement System now owns 56,350 shares of the company's stock worth $5,141,000 after buying an additional 1,338 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new stake in shares of Jackson Financial in the 3rd quarter worth approximately $216,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Jackson Financial by 4.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 50,539 shares of the company's stock worth $4,611,000 after buying an additional 2,040 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Gregory T. Durant purchased 1,500 shares of Jackson Financial stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now owns 32,023 shares in the company, valued at $2,891,036.44. This represents a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Jackson Financial Stock Up 4.1 %

Shares of JXN traded up $3.45 during midday trading on Wednesday, hitting $87.83. 857,988 shares of the company's stock traded hands, compared to its average volume of 665,347. Jackson Financial Inc. has a 1 year low of $56.67 and a 1 year high of $115.22. The firm's fifty day moving average is $90.69 and its 200-day moving average is $93.03. 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 capitalization of $6.49 billion, a price-to-earnings ratio of 7.67 and a beta of 1.47.

Jackson Financial (NYSE:JXN - Get Free Report) last announced 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. As a group, sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.64%. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, March 11th. Jackson Financial's payout ratio is presently 27.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on JXN shares. Evercore ISI cut Jackson Financial from an "in-line" rating to an "underperform" rating and lifted their price objective for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays boosted their price target on Jackson Financial from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on Jackson Financial from $103.00 to $105.00 and gave the company a "market perform" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $97.40.

Jackson Financial Company Profile

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.