Summit Global Investments Increases Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Summit Global Investments increased its holdings in Jackson Financial Inc. (NYSE:JXN) by 21.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,694 shares of the company’s stock after buying an additional 2,100 shares during the period. Summit Global Investments’ holdings in Jackson Financial were worth $599,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. acquired a new position in Jackson Financial during the fourth quarter worth about $36,000. Headlands Technologies LLC acquired a new position in shares of Jackson Financial during the 4th quarter worth approximately $38,000. NBC Securities Inc. acquired a new position in shares of Jackson Financial during the 3rd quarter worth approximately $28,000. PNC Financial Services Group Inc. lifted its stake in Jackson Financial by 291.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock valued at $39,000 after buying an additional 763 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Jackson Financial by 113.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,297 shares of the company’s stock valued at $66,000 after buying an additional 688 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

Shares of JXN opened at $71.16 on Friday. Jackson Financial Inc. has a 52-week low of $26.70 and a 52-week high of $71.66. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 7.25 and a beta of 1.54. The business’s 50 day moving average is $63.70 and its two-hundred day moving average is $53.24.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 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. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $5.66 EPS. Analysts forecast that Jackson Financial Inc. will post 15.95 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Monday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s payout ratio is currently 28.54%.

Wall Street Analyst Weigh In

JXN has been the subject of several analyst reports. Evercore ISI boosted their target price on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley lifted their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group increased their price target on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.80.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of the 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 transaction, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

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.