Western Wealth Management LLC Acquires Shares of 4,990 Jackson Financial Inc. (NYSE:JXN)

Western Wealth Management LLC acquired a new stake in Jackson Financial Inc. (NYSE:JXN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,990 shares of the company’s stock, valued at approximately $255,000.

Other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in shares of Jackson Financial during the 3rd quarter worth $28,000. Daiwa Securities Group Inc. acquired a new position in shares of Jackson Financial during the 4th quarter worth $36,000. PNC Financial Services Group Inc. grew its stake in shares of Jackson Financial by 291.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock worth $39,000 after purchasing an additional 763 shares during the period. Global Retirement Partners LLC grew its stake in shares of Jackson Financial by 464.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,344 shares of the company’s stock worth $49,000 after purchasing an additional 1,106 shares during the period. Finally, Planned Solutions Inc. purchased a new stake in shares of Jackson Financial in the 4th quarter worth about $77,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Derek G. Kirkland acquired 3,500 shares of Jackson Financial stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 price objective on shares of Jackson Financial in a research note on Tuesday, January 2nd. Morgan Stanley increased their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Evercore ISI increased their target price on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.80.

Jackson Financial Stock Up 2.8 %

Shares of NYSE:JXN opened at $67.04 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. Jackson Financial Inc. has a 52-week low of $26.70 and a 52-week high of $68.97. The company has a 50 day moving average of $60.47 and a two-hundred day moving average of $51.40. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 6.83 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $5.66 earnings per share. As a group, analysts forecast that Jackson Financial Inc. will post 15.95 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.70 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Monday, March 11th. Jackson Financial’s dividend payout ratio is 28.54%.

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.