Principal Financial Group Inc. Acquires 10,880 Shares of Jackson Financial Inc. (NYSE:JXN)

Principal Financial Group Inc. lifted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 417,984 shares of the company’s stock after purchasing an additional 10,880 shares during the quarter. Principal Financial Group Inc. owned 0.57% of Jackson Financial worth $36,398,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in JXN. International Assets Investment Management LLC increased its holdings in shares of Jackson Financial by 9,363.9% during the third quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after purchasing an additional 932,085 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock worth $95,874,000 after purchasing an additional 300,520 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Jackson Financial by 6,642.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company’s stock worth $19,716,000 after purchasing an additional 223,060 shares during the period. Four Tree Island Advisory LLC bought a new position in shares of Jackson Financial during the fourth quarter worth approximately $19,298,000. Finally, Ibex Wealth Advisors bought a new position in shares of Jackson Financial during the fourth quarter worth approximately $17,055,000. 89.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Jackson Financial

In related news, Director Gregory T. Durant bought 1,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the transaction, the director now directly owns 32,023 shares of the company’s stock, valued at approximately $2,891,036.44. This represents a 4.91 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Jackson Financial Stock Performance

NYSE JXN opened at $81.63 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of -6.46 and a beta of 1.47. The firm’s 50 day simple moving average is $90.93 and its 200 day simple moving average is $92.65. Jackson Financial Inc. has a 1 year low of $48.00 and a 1 year high of $115.22.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, research analysts expect that Jackson Financial Inc. will post 18.85 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be given a $0.80 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.92%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is currently 27.95%.

Analysts Set New Price Targets

Several brokerages have recently commented on JXN. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays increased their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday. One research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $92.80.

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.