Raymond James Financial Inc. purchased a new position in 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 purchased 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 quarter.
Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company's stock valued at $95,874,000 after purchasing an additional 300,520 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Jackson Financial by 196.4% during the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company's stock valued at $38,946,000 after purchasing an additional 296,367 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Jackson Financial by 6,642.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company's stock valued at $19,716,000 after purchasing an additional 223,060 shares in the last quarter. Four Tree Island Advisory LLC bought a new position in shares of Jackson Financial during the fourth quarter valued at about $19,298,000. Finally, Ibex Wealth Advisors purchased a new stake in Jackson Financial during the fourth quarter worth about $17,055,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on JXN. Barclays lifted their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods lifted their target price on shares of 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 research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $97.40.
Read Our Latest Stock Report on Jackson Financial
Jackson Financial Trading Up 4.4 %
JXN traded up $3.48 during trading on Friday, reaching $82.84. The company had a trading volume of 755,943 shares, compared to its average volume of 662,750. The stock has a market cap of $6.02 billion, a P/E ratio of 7.24 and a beta of 1.48. The business has a 50 day simple moving average of $89.81 and a 200-day simple moving average of $92.76. Jackson Financial Inc. has a 52 week low of $60.99 and a 52 week high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.
Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.81 billion. On average, equities analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal 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 paid a $0.80 dividend. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.86%. The ex-dividend date is Tuesday, March 11th. Jackson Financial's dividend payout ratio is currently 27.95%.
Insider Activity at Jackson Financial
In related news, CEO Scott Romine sold 7,000 shares of the firm's 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 directly owns 85,276 shares of the company's stock, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.
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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