Ritholtz Wealth Management Boosts Stake in Jackson Financial Inc. (NYSE:JXN)

Ritholtz Wealth Management increased its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 15.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,098 shares of the company's stock after acquiring an additional 3,006 shares during the quarter. Ritholtz Wealth Management's holdings in Jackson Financial were worth $1,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Jackson Financial by 13.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company's stock worth $388,000 after purchasing an additional 547 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Jackson Financial by 385.3% during the first quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company's stock worth $73,288,000 after buying an additional 694,518 shares during the period. SG Americas Securities LLC boosted its position in Jackson Financial by 670.0% during the 1st quarter. SG Americas Securities LLC now owns 15,393 shares of the company's stock valued at $1,290,000 after acquiring an additional 13,394 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Jackson Financial by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 2,108 shares of the company's stock valued at $177,000 after acquiring an additional 330 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its position in Jackson Financial by 1.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 14,096 shares of the company's stock valued at $1,181,000 after purchasing an additional 166 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Activity

In other Jackson Financial news, CEO Craig Donald Smith sold 20,607 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the sale, the chief executive officer now directly owns 116,423 shares of the company's stock, valued at approximately $8,093,726.96. This trade represents a 15.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley set a $91.00 price target on shares of Jackson Financial and gave the company an "equal weight" rating in a report on Monday, May 19th. Barclays lifted their price target on shares of Jackson Financial from $106.00 to $108.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Jackson Financial from $90.00 to $100.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $94.80.

Jackson Financial Stock Performance

Jackson Financial stock traded up $0.16 during mid-day trading on Tuesday, reaching $83.90. 737,115 shares of the company traded hands, compared to its average volume of 760,855. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 7.33 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22. The firm's fifty day moving average is $80.28 and its two-hundred day moving average is $85.66.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.17. The firm had revenue of $3.75 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the firm posted $4.23 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, June 12th. Jackson Financial's payout ratio is 310.68%.

Jackson Financial Company 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.