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

Victory Capital Management Inc. grew its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 10.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 493,052 shares of the company's stock after purchasing 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 hedge funds and other institutional investors also recently bought and sold shares of the stock. First Trust Advisors LP boosted its position in shares of Jackson Financial by 13.4% during the 4th 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 acquiring an additional 13,362 shares in the last quarter. Norges Bank acquired a new stake in shares of Jackson Financial during the 4th quarter valued at about $98,767,000. Jacobs Levy Equity Management Inc. boosted its position in shares of 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 acquiring an additional 4,987 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of 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 acquiring an additional 40,828 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of NYSE JXN traded up $1.24 during trading on Tuesday, reaching $88.53. The company had a trading volume of 177,687 shares, compared to its average volume of 746,530. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $115.22. The stock has a market cap of $6.32 billion, a PE ratio of 85.78 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.29 and a current ratio of 0.29. The business's 50 day moving average price is $85.33 and its 200-day moving average price is $84.98.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping 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 company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $4.23 earnings per share. The company's revenue was down .6% on a year-over-year basis. Analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, June 12th. Jackson Financial's dividend payout ratio (DPR) is 310.68%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on JXN shares. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $100.00 to $102.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Morgan Stanley set a $91.00 price target on shares of Jackson Financial and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Barclays boosted their price target on shares of Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $96.40.

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.