By otakuyassine3@gmail.com 
Arizona State Retirement System lessened its holdings in shares of Jackson Financial Inc. (NYSE:JXN – Free Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,836 shares of the company’s stock after selling 124 shares during the quarter. Arizona State Retirement System’s holdings in Jackson Financial were worth $1,901,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Empowered Funds LLC acquired a new position in Jackson Financial in the fourth quarter valued at $26,000. World Investment Advisors LLC acquired a new position in shares of Jackson Financial during the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new stake in shares of Jackson Financial in the fourth quarter worth approximately $44,000. Blue Trust Inc. grew 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 purchasing an additional 426 shares during the period. Finally, R Squared Ltd acquired a new position in Jackson Financial during the fourth quarter worth approximately $126,000. Institutional investors and hedge funds own 89.96% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on JXN shares. Barclays increased their target price on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. Finally, Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $74.00 to $95.00 in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $97.40.
Get Our Latest Stock Report on JXN
Insider Transactions at Jackson Financial
In related news, CEO Scott Romine sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction 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. This represents a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Jackson Financial Trading Up 0.0 %
NYSE:JXN opened at $81.21 on Wednesday. Jackson Financial Inc. has a one year low of $60.00 and a one year high of $115.22. The business’s 50-day simple moving average is $90.23 and its 200 day simple moving average is $92.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 7.09 and a beta of 1.48.
Jackson Financial (NYSE:JXN – Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. As a group, sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.
Jackson Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is 27.95%.
Jackson Financial 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.
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