Victory Capital Management Inc. Buys 45,807 Shares of Jackson Financial Inc. (NYSE:JXN)

Victory Capital Management Inc. grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 10.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 493,052 shares of the company's stock after acquiring an additional 45,807 shares during the period. Victory Capital Management Inc. owned about 0.68% of Jackson Financial worth $41,308,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. First Trust Advisors LP raised its stake in shares of Jackson Financial by 13.4% during the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company's stock valued at $360,036,000 after acquiring an additional 487,803 shares during the last quarter. Geode Capital Management LLC increased its position in Jackson Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company's stock valued at $188,522,000 after purchasing an additional 13,362 shares during the period. Norges Bank acquired a new stake in Jackson Financial during the 4th quarter valued at approximately $98,767,000. Jacobs Levy Equity Management Inc. increased its position in Jackson Financial by 0.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,082,974 shares of the company's stock valued at $94,305,000 after purchasing an additional 4,987 shares during the period. Finally, Federated Hermes Inc. increased its position in Jackson Financial by 4.2% during the 4th quarter. Federated Hermes Inc. now owns 1,010,490 shares of the company's stock valued at $87,993,000 after purchasing an additional 40,828 shares during the period. Institutional investors own 89.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $100.00 to $102.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Barclays increased their target price on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Finally, Morgan Stanley set a $91.00 target price on shares of Jackson Financial and gave the stock an "equal weight" rating in a research report on Monday, May 19th. One investment 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $96.40.

Jackson Financial Stock Up 1.1%

JXN stock traded up $0.99 during trading on Wednesday, reaching $89.51. The stock had a trading volume of 299,714 shares, compared to its average volume of 746,337. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 86.91 and a beta of 1.47. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $85.38 and its two-hundred day moving average is $85.04.

Jackson Financial (NYSE:JXN - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.93 by $0.17. Jackson Financial had a net margin of 1.73% and a return on equity of 15.46%. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the firm earned $4.23 EPS. The company's revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, June 12th. Jackson Financial's dividend payout ratio is currently 310.68%.

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.