First Trust Advisors LP Buys 487,803 Shares of Jackson Financial Inc. (NYSE:JXN)

First Trust Advisors LP boosted its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,134,545 shares of the company’s stock after purchasing an additional 487,803 shares during the period. First Trust Advisors LP owned about 5.60% of Jackson Financial worth $360,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Jackson Financial by 7.1% during the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $155,000 after acquiring an additional 118 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Jackson Financial by 0.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 50,707 shares of the company’s stock valued at $4,416,000 after purchasing an additional 168 shares during the last quarter. Caprock Group LLC lifted its stake in shares of Jackson Financial by 4.3% in the 4th quarter. Caprock Group LLC now owns 4,218 shares of the company’s stock worth $367,000 after purchasing an additional 173 shares during the period. IFP Advisors Inc boosted its holdings in shares of 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 buying an additional 180 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its position in Jackson Financial by 1.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 18,048 shares of the company’s stock valued at $1,572,000 after buying an additional 193 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Activity

In other news, CEO Craig Donald Smith sold 20,607 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $69.52, for a total value of $1,432,598.64. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on JXN shares. Barclays decreased 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. Morgan Stanley reduced their price target on Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods cut their price objective on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Jackson Financial currently has a consensus rating of “Hold” and a consensus price target of $91.40.

Jackson Financial Stock Up 1.1 %

Shares of JXN opened at $72.44 on Friday. The business’s 50 day moving average is $82.67 and its 200 day moving average is $91.25. 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 Inc. has a 12-month low of $64.04 and a 12-month high of $115.22. The company has a market capitalization of $5.26 billion, a PE ratio of 6.33 and a beta of 1.49.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Research analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a $0.80 dividend. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 4.42%. Jackson Financial’s payout ratio is presently 27.95%.

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.