Assenagon Asset Management S.A. increased its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 385.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 874,771 shares of the company's stock after purchasing an additional 694,518 shares during the period. Assenagon Asset Management S.A. owned 1.20% of Jackson Financial worth $73,288,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in Jackson Financial in the 4th quarter valued at about $26,000. Quarry LP acquired a new stake in Jackson Financial during the fourth quarter valued at approximately $28,000. NBC Securities Inc. acquired a new stake in Jackson Financial during the first quarter valued at approximately $37,000. SBI Securities Co. Ltd. acquired a new stake in Jackson Financial during the fourth quarter valued at approximately $44,000. Finally, Versant Capital Management Inc raised its stake in Jackson Financial by 161.9% during the first quarter. Versant Capital Management Inc now owns 550 shares of the company's stock valued at $46,000 after buying an additional 340 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CEO Craig Donald Smith sold 20,607 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $69.52, for a total value of $1,432,598.64. Following the completion of the transaction, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. The trade was a 15.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company's stock.
Jackson Financial Stock Performance
Shares of NYSE:JXN traded down $1.42 during midday trading on Friday, hitting $81.37. The company's stock had a trading volume of 777,737 shares, compared to its average volume of 760,172. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 7.11 and a beta of 1.47. The stock's 50 day simple moving average is $80.01 and its 200 day simple moving average is $85.78. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30.
Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.17. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the business posted $4.23 earnings per share. The company's revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.
Jackson Financial Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Thursday, June 12th. Jackson Financial's payout ratio is presently 310.68%.
Analysts Set New Price Targets
Several equities analysts have recently commented on JXN shares. Barclays upped their target price on Jackson Financial from $106.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $90.00 to $100.00 and gave the company a "market perform" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley set a $91.00 price objective on Jackson Financial and gave the stock an "equal weight" rating in a report on Monday, May 19th. One 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 presently has an average rating of "Hold" and an average target price of $94.80.
View Our Latest Research Report on JXN
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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