Plato Investment Management Ltd Lowers Stock Position in Jackson Financial Inc. (NYSE:JXN)

Plato Investment Management Ltd lowered its position in shares of Jackson Financial Inc. (NYSE:JXN) by 73.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 755 shares of the company’s stock after selling 2,090 shares during the period. Plato Investment Management Ltd’s holdings in Jackson Financial were worth $66,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Jackson Financial during the fourth quarter valued at $44,000. Williamson Legacy Group LLC purchased a new position in shares of Jackson Financial in the 4th quarter worth about $315,000. QRG Capital Management Inc. raised its position in shares of Jackson Financial by 2.8% in the 4th quarter. QRG Capital Management Inc. now owns 9,111 shares of the company’s stock worth $793,000 after purchasing an additional 246 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Jackson Financial in the 4th quarter worth about $1,160,000. Finally, New York Life Investment Management LLC purchased a new position in shares of Jackson Financial in the 4th quarter worth about $689,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JXN. Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Friday, February 28th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Finally, Barclays lifted their price target on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and a consensus target price of $97.40.

Insider Buying and Selling at Jackson Financial

In other news, Director Gregory T. Durant purchased 1,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the purchase, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

NYSE JXN opened at $87.83 on Thursday. Jackson Financial Inc. has a one year low of $56.67 and a one year high of $115.22. The stock has a 50-day moving average of $90.66 and a 200 day moving average of $92.99. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 7.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30.

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

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.80 per share. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Tuesday, March 11th. Jackson Financial’s 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.