HighTower Advisors LLC grew its stake in shares of Jackson Financial Inc. (NYSE:JXN – Free Report) by 74.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,823 shares of the company’s stock after purchasing an additional 2,491 shares during the quarter. HighTower Advisors LLC’s holdings in Jackson Financial were worth $507,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Jackson Financial in the 4th quarter worth approximately $26,000. World Investment Advisors LLC bought a new position in shares of Jackson Financial during the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. purchased a new stake in Jackson Financial in the fourth quarter worth $44,000. Blue Trust Inc. boosted its holdings in Jackson Financial by 114.5% in the fourth quarter. Blue Trust Inc. now owns 798 shares of the company’s stock valued at $69,000 after acquiring an additional 426 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Jackson Financial in the fourth quarter valued at $126,000. Institutional investors own 89.96% of the company’s stock.
Jackson Financial Stock Performance
Shares of JXN stock opened at $83.15 on Monday. The company’s fifty day moving average price is $89.03 and its 200-day moving average price is $92.93. The stock has a market cap of $6.04 billion, a PE ratio of 7.26 and a beta of 1.48. 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 Inc. has a 12 month low of $62.81 and a 12 month high of $115.22.
Jackson Financial (NYSE:JXN – Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. On average, equities analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.
Jackson Financial Increases Dividend
The business also recently declared 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 represents a $3.20 annualized dividend and a dividend yield of 3.85%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is presently 27.95%.
Wall Street Analyst Weigh In
JXN has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised 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 report on Friday, February 28th. Barclays raised their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Jackson Financial has an average rating of “Hold” and an average price target of $97.40.
Check Out Our Latest Report on Jackson Financial
Insider Activity at Jackson Financial
In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s 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 sale, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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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