HighTower Advisors LLC Purchases 2,491 Shares of Jackson Financial Inc. (NYSE:JXN)

HighTower Advisors LLC boosted its position in Jackson Financial Inc. (NYSE:JXN) by 74.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,823 shares of the company’s stock after acquiring an additional 2,491 shares during the period. HighTower Advisors LLC’s holdings in Jackson Financial were worth $507,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of Jackson Financial in the fourth quarter worth $26,000. World Investment Advisors LLC purchased a new stake in Jackson Financial during the 3rd quarter worth about $31,000. SBI Securities Co. Ltd. bought a new position in Jackson Financial in the 4th quarter worth about $44,000. Blue Trust Inc. grew its holdings in Jackson Financial by 114.5% during the 4th quarter. Blue Trust Inc. now owns 798 shares of the company’s stock valued at $69,000 after buying an additional 426 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Jackson Financial during the fourth quarter valued at about $126,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Stock Down 3.0 %

JXN stock opened at $83.15 on Monday. The company’s 50 day moving average is $89.03 and its 200 day moving average is $92.93. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 7.26 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. Jackson Financial Inc. has a 1-year low of $62.81 and a 1-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 business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. Sell-side analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Tuesday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is currently 27.95%.

Insider Buying and Selling at Jackson Financial

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays raised 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 raised 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 research 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. According to data from MarketBeat.com, the company currently 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.