Sumitomo Mitsui DS Asset Management Company Ltd Purchases New Position in Jackson Financial Inc. (NYSE:JXN)

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 330,800 shares of the company's stock, valued at approximately $16,937,000. Sumitomo Mitsui DS Asset Management Company Ltd owned approximately 0.42% of Jackson Financial at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Private Trust Co. NA raised its holdings in Jackson Financial by 10.2% during the fourth quarter. Private Trust Co. NA now owns 3,156 shares of the company's stock worth $162,000 after acquiring an additional 292 shares in the last quarter. Kendall Capital Management raised its holdings in Jackson Financial by 0.7% during the fourth quarter. Kendall Capital Management now owns 51,310 shares of the company's stock worth $2,627,000 after acquiring an additional 360 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Jackson Financial by 4.9% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 9,237 shares of the company's stock worth $353,000 after acquiring an additional 429 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Jackson Financial by 9.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,025 shares of the company's stock worth $184,000 after acquiring an additional 500 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in Jackson Financial by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 52,212 shares of the company's stock worth $1,996,000 after acquiring an additional 527 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Price Performance

NYSE:JXN traded up $0.81 during trading hours on Friday, reaching $65.20. 775,444 shares of the company were exchanged, compared to its average volume of 560,486. The company has a market capitalization of $5.05 billion, a P/E ratio of 6.65 and a beta of 1.57. Jackson Financial Inc. has a 1-year low of $26.70 and a 1-year high of $68.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The business has a 50 day moving average of $60.18 and a 200 day moving average of $51.18.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.53 by ($1.00). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.40 billion. Jackson Financial's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.66 earnings per share. Research analysts forecast that Jackson Financial Inc. will post 15.95 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.29%. This is an increase from Jackson Financial's previous quarterly dividend of $0.62. Jackson Financial's dividend payout ratio is currently 28.54%.

Insider Buying and Selling

In other Jackson Financial news, Director Derek G. Kirkland bought 3,500 shares of the business's stock in a transaction on Monday, March 4th. The stock was purchased at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares of the company's stock, valued at $2,100,206.42. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

JXN has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on Jackson Financial from $39.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 9th. Morgan Stanley boosted their price target on Jackson Financial from $52.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Jefferies Financial Group reissued a "hold" rating and set a $55.00 price target on shares of Jackson Financial in a research report on Tuesday, January 2nd. Evercore ISI boosted their price target on Jackson Financial from $55.00 to $62.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $68.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $61.80.

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.