Raymond James Financial Inc. Purchases Shares of 312,272 Jackson Financial Inc. (NYSE:JXN)

Raymond James Financial Inc. bought a new stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 312,272 shares of the company's stock, valued at approximately $27,193,000. Raymond James Financial Inc. owned about 0.42% of Jackson Financial as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC purchased a new position in shares of Jackson Financial in the third quarter worth approximately $253,000. Barclays PLC grew its position in Jackson Financial by 251.6% during the 3rd quarter. Barclays PLC now owns 134,001 shares of the company's stock worth $12,223,000 after purchasing an additional 95,893 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Jackson Financial in the third quarter valued at $31,000. Tidal Investments LLC acquired a new position in Jackson Financial during the third quarter valued at $1,733,000. Finally, DGS Capital Management LLC purchased a new stake in Jackson Financial in the 3rd quarter worth about $478,000. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Stock Up 5.0 %

NYSE JXN traded up $3.64 during trading on Wednesday, hitting $76.40. 121,339 shares of the company traded hands, compared to its average volume of 751,303. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22. The business has a fifty day simple moving average of $81.84 and a 200 day simple moving average of $90.93. The company has a market capitalization of $5.55 billion, a P/E ratio of 6.67 and a beta of 1.49. 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 posted its 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. As a group, sell-side analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 4.19%. Jackson Financial's dividend payout ratio (DPR) is presently 27.95%.

Analysts Set New Price Targets

JXN has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of Jackson Financial from $105.00 to $90.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley cut their price objective on Jackson Financial from $92.00 to $86.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Barclays reduced their price objective on Jackson Financial from $118.00 to $106.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $91.40.

Insider Buying and Selling

In related news, CEO Craig Donald Smith sold 20,607 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the transaction, the chief executive officer now owns 116,423 shares of the company's stock, valued at approximately $8,093,726.96. The trade was a 15.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Romine sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were 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 position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

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.