Jackson Financial Inc. (NYSE:JXN) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in Jackson Financial Inc. (NYSE:JXN) by 47.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,282 shares of the company’s stock after acquiring an additional 6,886 shares during the period. Mackenzie Financial Corp’s holdings in Jackson Financial were worth $1,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of Jackson Financial during the third quarter worth $28,000. PNC Financial Services Group Inc. raised its holdings in shares of Jackson Financial by 291.2% during the third 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 raised its holdings in shares of Jackson Financial by 464.7% during the third 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. Planned Solutions Inc. acquired a new stake in shares of Jackson Financial during the fourth quarter worth $77,000. Finally, Private Trust Co. NA raised its holdings in shares of Jackson Financial by 60.6% during the third quarter. Private Trust Co. NA now owns 2,864 shares of the company’s stock worth $109,000 after purchasing an additional 1,081 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

Shares of JXN opened at $70.60 on Thursday. The firm has a 50-day moving average price of $61.20 and a 200 day moving average price of $51.76. The firm has a market capitalization of $5.47 billion, a PE ratio of 7.20 and a beta of 1.57. 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 $70.97.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.66 EPS. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 15.95 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.97%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 11th. Jackson Financial’s dividend payout ratio is presently 28.54%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, Director Derek G. Kirkland purchased 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The stock was bought at an average cost of $55.67 per share, with a total value of $194,845.00. Following the acquisition, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JXN shares. Jefferies Financial Group reissued a “hold” rating and set a $55.00 target price on shares of Jackson Financial in a report on Tuesday, January 2nd. Evercore ISI upped their price target 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. The Goldman Sachs Group upped their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley upped their price target 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. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $61.80.

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.