ExodusPoint Capital Management LP Invests $7.62 Million in Jackson Financial Inc. (NYSE:JXN)

ExodusPoint Capital Management LP purchased a new stake in Jackson Financial Inc. (NYSE:JXN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 87,511 shares of the company’s stock, valued at approximately $7,620,000. ExodusPoint Capital Management LP owned approximately 0.12% of Jackson Financial at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of JXN. Cerity Partners LLC raised its position in shares of Jackson Financial by 84.8% during the third quarter. Cerity Partners LLC now owns 8,022 shares of the company’s stock worth $732,000 after acquiring an additional 3,681 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Jackson Financial by 9.6% during the third quarter. The Manufacturers Life Insurance Company now owns 48,918 shares of the company’s stock worth $4,463,000 after buying an additional 4,290 shares during the last quarter. FMR LLC lifted its holdings in Jackson Financial by 106.0% in the third quarter. FMR LLC now owns 174,505 shares of the company’s stock valued at $15,920,000 after buying an additional 89,798 shares during the period. Glenmede Trust Co. NA boosted its stake in Jackson Financial by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 3,362 shares of the company’s stock valued at $307,000 after acquiring an additional 411 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Jackson Financial by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 172,117 shares of the company’s stock valued at $15,702,000 after acquiring an additional 757 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Down 7.7 %

NYSE:JXN opened at $70.18 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a twelve month low of $62.81 and a twelve month high of $115.22. The company has a market cap of $5.10 billion, a P/E ratio of 6.13 and a beta of 1.48. The business has a 50 day moving average price of $87.63 and a two-hundred day moving average price of $92.69.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. As a group, analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.56%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is currently 27.95%.

Analysts Set New Price Targets

JXN has been the topic of several recent research reports. Barclays raised 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. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.40.

Insider Activity at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the firm’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 sale, the chief executive officer now directly owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

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.