Covestor Ltd Grows Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

by · The Cerbat Gem

Covestor Ltd lifted its position in shares of Jackson Financial Inc. (NYSE:JXN – Free Report) by 28.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,986 shares of the company’s stock after purchasing an additional 436 shares during the period. Covestor Ltd’s holdings in Jackson Financial were worth $173,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of JXN. Empowered Funds LLC purchased a new stake in Jackson Financial in the 4th quarter worth approximately $26,000. World Investment Advisors LLC purchased a new stake in Jackson Financial in the third quarter worth about $31,000. SBI Securities Co. Ltd. bought a new position in Jackson Financial during the 4th quarter valued at approximately $44,000. Blue Trust Inc. raised its stake in Jackson Financial by 114.5% during the fourth quarter. Blue Trust Inc. now owns 798 shares of the company’s stock valued at $69,000 after buying an additional 426 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Jackson Financial in the fourth quarter worth $126,000. 89.96% of the stock is owned by institutional investors.

Insider Activity

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig Donald Smith sold 20,607 shares of Jackson Financial stock in a transaction on Monday, April 7th. The stock was sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the transaction, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. This represents a 15.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of analyst reports. Morgan Stanley dropped their price target on shares of Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Thursday. Barclays increased their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Jackson Financial from $105.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $93.80.

Check Out Our Latest Stock Analysis on Jackson Financial

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $71.27 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 6.22 and a beta of 1.49. The business has a 50-day simple moving average of $85.07 and a two-hundred day simple moving average of $92.01. Jackson Financial Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN – Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share 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. On average, analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.49%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, March 11th. Jackson Financial’s dividend payout ratio is presently 27.95%.

About Jackson Financial

(Free Report)

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.

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