7,018 Shares in Jackson Financial Inc. (NYSE:JXN) Purchased by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,018 shares of the company’s stock, valued at approximately $611,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Jackson Financial by 7.1% in the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $155,000 after acquiring an additional 118 shares during the period. Mutual of America Capital Management LLC raised its position in Jackson Financial by 1.4% in the third quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock worth $1,032,000 after acquiring an additional 159 shares during the period. Janney Montgomery Scott LLC raised its position in Jackson Financial by 0.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,707 shares of the company’s stock worth $4,416,000 after acquiring an additional 168 shares during the period. Caprock Group LLC raised its position in Jackson Financial by 4.3% in the fourth quarter. Caprock Group LLC now owns 4,218 shares of the company’s stock worth $367,000 after acquiring an additional 173 shares during the period. Finally, IFP Advisors Inc raised its position in Jackson Financial by 7.2% in the fourth quarter. IFP Advisors Inc now owns 2,692 shares of the company’s stock worth $234,000 after acquiring an additional 180 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

NYSE JXN opened at $85.31 on Friday. The company’s 50 day moving average is $89.38 and its 200-day moving average is $92.67. Jackson Financial Inc. has a 12-month low of $62.81 and a 12-month high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The firm has a market cap of $6.20 billion, a P/E ratio of 7.45 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. Sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is 27.95%.

Analyst Ratings Changes

Several analysts have commented on JXN shares. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Friday, February 28th. Barclays boosted their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One research 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 has a consensus rating of “Hold” and a consensus price target of $97.40.

Insider Buying and Selling

In related news, CEO Scott Romine sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the sale, the chief executive officer now owns 85,276 shares of the company’s stock, valued at approximately $7,199,852.68. This represents a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

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.