Proficio Capital Partners LLC Purchases New Stake in Jackson Financial Inc. (NYSE:JXN)

Proficio Capital Partners LLC purchased a new stake in Jackson Financial Inc. (NYSE:JXN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,323 shares of the company’s stock, valued at approximately $1,160,000.

Several other hedge funds have also added to or reduced their stakes in JXN. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $95,874,000 after acquiring an additional 300,520 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings 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 valued at $19,716,000 after acquiring an additional 223,060 shares during the last quarter. Four Tree Island Advisory LLC bought a new position in Jackson Financial in the fourth quarter valued at about $19,298,000. Ibex Wealth Advisors acquired a new position in Jackson Financial in the fourth quarter valued at about $17,055,000. Finally, Assenagon Asset Management S.A. lifted 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 valued at $15,696,000 after buying an additional 153,992 shares during the period. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 1.7 %

NYSE JXN opened at $84.73 on Friday. The firm has a market cap of $6.26 billion, a P/E ratio of 7.40 and a beta of 1.48. 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 stock’s 50-day moving average is $90.46 and its 200-day moving average is $92.90. Jackson Financial Inc. has a one year low of $58.02 and a one year high of $115.22.

Jackson Financial (NYSE:JXN) last released its quarterly 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 firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.78%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is currently 27.95%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Jackson Financial

In other news, Director Gregory T. Durant acquired 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the acquisition, the director now owns 32,023 shares in the company, valued at $2,891,036.44. This represents a 4.91 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by 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.