KLP Kapitalforvaltning AS Takes Position in Jackson Financial Inc. (NYSE:JXN)

KLP Kapitalforvaltning AS acquired a new position in Jackson Financial Inc. (NYSE:JXN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,300 shares of the company’s stock, valued at approximately $1,855,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Jackson Financial in the fourth quarter worth $27,193,000. Victory Capital Management Inc. boosted its position in Jackson Financial by 196.4% during the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock worth $38,946,000 after acquiring an additional 296,367 shares during the period. Nisa Investment Advisors LLC grew its stake in Jackson Financial by 6,642.6% during the 4th 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 in the 4th quarter valued at about $19,298,000. Finally, Ibex Wealth Advisors purchased a new stake in shares of Jackson Financial in the fourth quarter worth approximately $17,055,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This represents a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays boosted their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods boosted their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $97.40.

Jackson Financial Price Performance

NYSE JXN opened at $85.75 on Friday. The firm has a market cap of $6.23 billion, a P/E ratio of 7.49 and a beta of 1.48. The stock’s 50-day moving average is $89.22 and its two-hundred day moving average is $92.73. Jackson Financial Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $115.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last posted its earnings results 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. On average, analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were issued 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 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Tuesday, March 11th. Jackson Financial’s dividend payout ratio is currently 27.95%.

About Jackson Financial

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.