Summit Global Investments increased its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 52.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,960 shares of the company's stock after purchasing an additional 4,123 shares during the quarter. Summit Global Investments' holdings in Jackson Financial were worth $1,041,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in JXN. Raymond James Financial Inc. acquired a new stake in shares of Jackson Financial during the fourth quarter worth approximately $27,193,000. Charles Schwab Investment Management Inc. grew its position in Jackson Financial by 40.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company's stock worth $95,874,000 after acquiring an additional 300,520 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Jackson Financial by 196.4% during the 4th 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 raised its position in Jackson Financial by 6,642.6% in the 4th 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 during the last quarter. Finally, Four Tree Island Advisory LLC acquired a new position in Jackson Financial in the fourth quarter worth $19,298,000. 89.96% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Barclays lifted 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. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $103.00 to $105.00 and gave the stock a "market perform" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial currently has an average rating of "Hold" and a consensus price target of $97.40.
Check Out Our Latest Analysis on JXN
Jackson Financial Trading Down 2.2 %
Shares of JXN traded down $1.90 during trading hours on Thursday, hitting $85.75. 786,734 shares of the stock traded hands, compared to its average volume of 678,806. The business has a fifty day moving average of $89.35 and a 200-day moving average of $92.77. The firm has a market capitalization of $6.23 billion, a PE ratio of 7.49 and a beta of 1.48. Jackson Financial Inc. has a 1-year low of $62.81 and a 1-year high of $115.22. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. Analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current year.
Jackson Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a $0.80 dividend. The ex-dividend date was Tuesday, March 11th. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 3.73%. Jackson Financial's dividend payout ratio (DPR) is presently 27.95%.
Insiders Place Their Bets
In other Jackson Financial 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.
Jackson Financial Profile
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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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