Raymond James Financial Inc. acquired a new position 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 acquired 312,272 shares of the company's stock, valued at approximately $27,193,000. Raymond James Financial Inc. owned 0.42% of Jackson Financial at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd boosted its position in shares of Jackson Financial by 300.0% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company's stock worth $1,460,000 after buying an additional 12,000 shares during the period. Proficio Capital Partners LLC bought a new stake in Jackson Financial during the fourth quarter worth about $1,160,000. World Investment Advisors LLC bought a new stake in Jackson Financial during the third quarter worth about $31,000. Centaurus Financial Inc. raised its holdings in Jackson Financial by 135.1% during the third quarter. Centaurus Financial Inc. now owns 10,169 shares of the company's stock worth $928,000 after acquiring an additional 5,844 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in Jackson Financial by 43.3% during the third quarter. Stifel Financial Corp now owns 47,564 shares of the company's stock worth $4,340,000 after acquiring an additional 14,364 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Jackson Financial
In other news, CEO Scott Romine sold 7,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 85,276 shares in the company, valued at approximately $7,199,852.68. This represents a 7.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.
Wall Street Analyst Weigh In
JXN has been the topic of several research reports. Barclays upped their target price on 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 upped their target price 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $97.40.
View Our Latest Analysis on Jackson Financial
Jackson Financial Price Performance
NYSE:JXN traded up $3.48 during trading hours on Friday, reaching $82.84. 755,943 shares of the company were exchanged, compared to its average volume of 640,962. The company has a market capitalization of $6.02 billion, a P/E ratio of 7.24 and a beta of 1.48. Jackson Financial Inc. has a 1-year low of $60.99 and a 1-year high of $115.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50 day moving average of $89.81 and a 200 day moving average of $92.81.
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 (EPS) for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. Research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.
Jackson Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Tuesday, March 11th. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's dividend payout ratio (DPR) is currently 27.95%.
About Jackson Financial
(
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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