Lazard Asset Management LLC Buys 24,041 Shares of Jackson Financial Inc. (NYSE:JXN)

Lazard Asset Management LLC increased its stake in Jackson Financial Inc. (NYSE:JXN) by 10.1% during the first quarter, Holdings Channel reports. The firm owned 261,981 shares of the company’s stock after acquiring an additional 24,041 shares during the period. Lazard Asset Management LLC’s holdings in Jackson Financial were worth $17,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Jackson Financial by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,175,970 shares of the company’s stock worth $213,813,000 after buying an additional 399,665 shares in the last quarter. Donald Smith & CO. Inc. boosted its position in shares of Jackson Financial by 20.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock worth $157,180,000 after acquiring an additional 397,287 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Jackson Financial by 6.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock worth $89,021,000 after acquiring an additional 111,875 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Jackson Financial by 12.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,107,993 shares of the company’s stock valued at $56,729,000 after acquiring an additional 122,302 shares during the last quarter. Finally, Norges Bank acquired a new position in Jackson Financial during the fourth quarter valued at approximately $51,189,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JXN. Evercore ISI reduced their target price on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Jefferies Financial Group raised their price objective on Jackson Financial from $62.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Keefe, Bruyette & Woods downgraded Jackson Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $75.00 to $80.00 in a research note on Tuesday, May 14th. Finally, Morgan Stanley increased their target price on shares of Jackson Financial from $82.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $70.80.

Jackson Financial Stock Up 3.0 %

Shares of JXN opened at $87.84 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32. Jackson Financial Inc. has a 52 week low of $31.40 and a 52 week high of $88.12. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 2.32 and a beta of 1.51. The stock has a fifty day moving average of $76.32 and a 200-day moving average of $66.01.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company earned $3.15 EPS. Jackson Financial’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Jackson Financial Inc. will post 17.33 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a $0.70 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.80 annualized dividend and a dividend yield of 3.19%. Jackson Financial’s dividend payout ratio is 7.40%.

Insider Activity at Jackson Financial

In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of Jackson Financial stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.67, for a total transaction of $983,710.00. Following the transaction, the chief operating officer now directly owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the completion of the sale, the chief operating officer now owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Don W. Cummings purchased 1,445 shares of the stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of $72.70 per share, with a total value of $105,051.50. Following the acquisition, the chief financial officer now owns 45,711 shares in the company, valued at approximately $3,323,189.70. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

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.