Proficio Capital Partners LLC Takes $1.16 Million Position in Jackson Financial Inc. (NYSE:JXN)

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. LVZ Inc. increased its position in shares of Jackson Financial by 27.0% in the 4th quarter. LVZ Inc. now owns 3,962 shares of the company’s stock worth $345,000 after purchasing an additional 842 shares during the last quarter. Atria Investments Inc increased its holdings in Jackson Financial by 32.6% in the fourth quarter. Atria Investments Inc now owns 7,219 shares of the company’s stock valued at $629,000 after buying an additional 1,773 shares during the last quarter. Assetmark Inc. raised its stake in Jackson Financial by 0.9% during the fourth quarter. Assetmark Inc. now owns 92,508 shares of the company’s stock valued at $8,056,000 after buying an additional 867 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 buying an additional 296,367 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Jackson Financial by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company’s stock worth $93,980,000 after acquiring an additional 28,337 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the transaction, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Jackson Financial Stock Up 0.2 %

Shares of Jackson Financial stock opened at $84.29 on Friday. Jackson Financial Inc. has a twelve month low of $62.81 and a twelve month high of $115.22. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 7.36 and a beta of 1.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $89.36 and its 200-day simple moving average is $92.66.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Equities research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were given a $0.80 dividend. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.80%. Jackson Financial’s dividend payout ratio is 27.95%.

Analyst Ratings Changes

Several research firms recently issued reports on JXN. Barclays upped their price target on 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 increased their target price on shares of 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 issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $97.40.

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.