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

Raymond James Financial Inc. acquired a new position in shares of Jackson Financial Inc. (NYSE:JXN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 312,272 shares of the company’s stock, valued at approximately $27,193,000. Raymond James Financial Inc. owned 0.42% of Jackson Financial as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC purchased a new position in Jackson Financial during the fourth quarter worth $26,000. World Investment Advisors LLC purchased a new stake in shares of Jackson Financial during the third quarter valued at $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of Jackson Financial during the fourth quarter valued at $44,000. Blue Trust Inc. boosted its stake in shares of Jackson Financial by 114.5% during the fourth quarter. Blue Trust Inc. now owns 798 shares of the company’s stock valued at $69,000 after purchasing an additional 426 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Jackson Financial during the fourth quarter valued at $126,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on JXN shares. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Friday, February 28th. Barclays boosted their target price on shares of 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 issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Jackson Financial presently has an average rating of “Hold” and an average price target of $97.40.

Jackson Financial Stock Performance

JXN stock opened at $82.84 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50-day moving average price of $89.81 and a 200 day moving average price of $92.76. The company has a market capitalization of $6.02 billion, a P/E ratio of 7.24 and a beta of 1.48. Jackson Financial Inc. has a 1-year low of $60.99 and a 1-year high of $115.22.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share 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 analysts’ expectations of $1.81 billion. As a group, equities research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be issued a $0.80 dividend. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Tuesday, March 11th. Jackson Financial’s payout ratio is presently 27.95%.

Insiders Place Their Bets

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the transaction, the chief executive officer now directly owns 85,276 shares in the company, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently 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.