NewEdge Advisors LLC Grows Position in Jackson Financial Inc. (NYSE:JXN)

NewEdge Advisors LLC grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 188.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,363 shares of the company's stock after buying an additional 4,160 shares during the period. NewEdge Advisors LLC's holdings in Jackson Financial were worth $554,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Jackson Financial in the fourth quarter worth approximately $1,160,000. World Investment Advisors LLC bought a new position in shares of Jackson Financial in the 3rd quarter worth $31,000. New York Life Investment Management LLC acquired a new stake in Jackson Financial in the 4th quarter valued at $689,000. Robeco Institutional Asset Management B.V. increased its stake in Jackson Financial by 22.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 109,839 shares of the company's stock valued at $9,565,000 after purchasing an additional 19,934 shares in the last quarter. Finally, Barclays PLC raised its holdings in Jackson Financial by 251.6% during the third quarter. Barclays PLC now owns 134,001 shares of the company's stock worth $12,223,000 after buying an additional 95,893 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Stock Up 3.7 %

Shares of JXN traded up $2.88 during trading hours on Friday, reaching $80.72. 92,935 shares of the stock traded hands, compared to its average volume of 747,025. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $115.22. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 7.04 and a beta of 1.49. The stock has a fifty day simple moving average of $79.96 and a 200 day simple moving average of $89.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.81 billion. On average, equities analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.96%. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's payout ratio is currently 27.95%.

Insider Activity

In related news, CEO Scott Romine sold 7,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Craig Donald Smith sold 20,607 shares of Jackson Financial 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 completion of the sale, the chief executive officer now directly owns 116,423 shares in the company, valued at approximately $8,093,726.96. This represents a 15.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JXN. Keefe, Bruyette & Woods reduced their price objective on shares of Jackson Financial from $105.00 to $90.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Barclays dropped their price target on shares of Jackson Financial from $118.00 to $106.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley decreased their price objective on Jackson Financial from $92.00 to $86.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. One 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $91.40.

About Jackson Financial

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.