Plato Investment Management Ltd Cuts Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Plato Investment Management Ltd decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 73.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 755 shares of the company’s stock after selling 2,090 shares during the quarter. Plato Investment Management Ltd’s holdings in Jackson Financial were worth $66,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in Jackson Financial by 40.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock worth $95,874,000 after buying an additional 300,520 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Jackson Financial by 6,642.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company’s stock worth $19,716,000 after buying an additional 223,060 shares in the last quarter. Four Tree Island Advisory LLC purchased a new stake in Jackson Financial in the fourth quarter worth approximately $19,298,000. Ibex Wealth Advisors purchased a new stake in Jackson Financial in the fourth quarter worth approximately $17,055,000. Finally, Assenagon Asset Management S.A. boosted its stake in Jackson Financial by 586.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 180,253 shares of the company’s stock worth $15,696,000 after buying an additional 153,992 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

NYSE:JXN opened at $87.83 on Thursday. The firm has a market cap of $6.49 billion, a PE ratio of 7.67 and a beta of 1.47. Jackson Financial Inc. has a fifty-two week low of $56.67 and a fifty-two week high of $115.22. 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 business has a 50 day moving average price of $90.66 and a 200-day moving average price of $92.99.

Jackson Financial (NYSE:JXN) last announced 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 the consensus estimate of $1.81 billion. Equities research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.80 per share. 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. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is currently 27.95%.

Wall Street Analysts Forecast Growth

JXN has been the subject of several research reports. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Friday, February 28th. Finally, Barclays increased their price objective on Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.40.

Insider Activity at Jackson Financial

In other Jackson Financial news, Director Gregory T. Durant bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the acquisition, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate 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.