Raymond James Financial Inc. Makes New Investment in Jackson Financial Inc. (NYSE:JXN)

Raymond James Financial Inc. acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 312,272 shares of the company’s stock, valued at approximately $27,193,000.

Several other hedge funds have also recently modified their holdings of JXN. 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 valued at $95,874,000 after acquiring an additional 300,520 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Jackson Financial by 196.4% during the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after acquiring an additional 296,367 shares in the last quarter. 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 valued at $19,716,000 after acquiring an additional 223,060 shares in the last quarter. Four Tree Island Advisory LLC acquired a new position in shares of Jackson Financial during the fourth quarter valued at about $19,298,000. Finally, Ibex Wealth Advisors acquired a new position in shares of Jackson Financial during the fourth quarter valued at about $17,055,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction 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 sale, the chief executive officer now owns 85,276 shares of the company’s stock, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

JXN has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. Barclays upped their price objective 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. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $97.40.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $82.84 on Friday. The business’s 50 day moving average price is $89.81 and its 200 day moving average price is $92.76. The firm has a market cap of $6.02 billion, a P/E ratio of 7.24 and a beta of 1.48. Jackson Financial Inc. has a 52 week low of $60.99 and a 52 week 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.

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

Jackson Financial Increases Dividend

The business also recently disclosed 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. This represents a $3.20 annualized dividend and a yield of 3.86%. The ex-dividend date is 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 currently 27.95%.

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.