Massachusetts Financial Services Co. MA Buys 18,472 Shares of Jackson Financial Inc. (NYSE:JXN)

Massachusetts Financial Services Co. MA lifted its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,391 shares of the company's stock after acquiring an additional 18,472 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.12% of Jackson Financial worth $4,986,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. acquired a new position in Jackson Financial in the fourth quarter worth approximately $230,000. Dimensional Fund Advisors LP grew its position in Jackson Financial by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company's stock worth $213,813,000 after buying an additional 399,665 shares during the last quarter. QRG Capital Management Inc. grew its position in Jackson Financial by 52.9% in the fourth quarter. QRG Capital Management Inc. now owns 8,785 shares of the company's stock worth $450,000 after buying an additional 3,041 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Jackson Financial in the fourth quarter worth approximately $211,000. Finally, Charles Schwab Investment Management Inc. grew its position in Jackson Financial by 12.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,107,993 shares of the company's stock worth $56,729,000 after buying an additional 122,302 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Trading Down 1.7 %

NYSE JXN traded down $1.36 on Monday, hitting $76.61. 689,295 shares of the stock were exchanged, compared to its average volume of 786,470. Jackson Financial Inc. has a 52-week low of $27.24 and a 52-week high of $81.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 2.02 and a beta of 1.54. The company's 50-day moving average price is $67.93 and its two-hundred day moving average price is $56.20.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.56. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $3.15 EPS. Research analysts predict that Jackson Financial Inc. will post 16.98 EPS for the current year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Thursday, June 6th. Jackson Financial's dividend payout ratio (DPR) is currently 7.40%.

Insider Buying and Selling at Jackson Financial

In related news, Director Derek G. Kirkland bought 3,500 shares of the firm's stock in a transaction on Monday, March 4th. The stock was bought at an average price of $55.67 per share, with a total value of $194,845.00. Following the purchase, the director now directly owns 37,726 shares of the company's stock, valued at approximately $2,100,206.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of Jackson Financial stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the purchase, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Devkumar Dilip Ganguly sold 13,000 shares of Jackson Financial stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the completion of the sale, the chief operating officer now directly owns 93,405 shares of the company's stock, valued at approximately $7,067,956.35. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Evercore ISI lifted their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods cut shares of Jackson Financial from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $75.00 to $80.00 in a research report on Tuesday, May 14th. Finally, Morgan Stanley lifted their price objective on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Jackson Financial currently has a consensus rating of "Hold" and a consensus target price of $62.80.

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.