Ritholtz Wealth Management Raises Stock Position in Jackson Financial Inc. (NYSE:JXN)

Ritholtz Wealth Management grew its holdings in Jackson Financial Inc. (NYSE:JXN) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,092 shares of the company’s stock after acquiring an additional 1,270 shares during the period. Ritholtz Wealth Management’s holdings in Jackson Financial were worth $1,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in shares of Jackson Financial by 586.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 180,253 shares of the company’s stock worth $15,696,000 after buying an additional 153,992 shares in the last quarter. Brookstone Capital Management purchased a new position in shares of Jackson Financial during the 4th quarter worth about $214,000. CWA Asset Management Group LLC boosted its stake in shares of Jackson Financial by 21.0% during the 4th quarter. CWA Asset Management Group LLC now owns 11,898 shares of the company’s stock worth $1,036,000 after purchasing an additional 2,069 shares during the period. GAMMA Investing LLC boosted its stake in shares of Jackson Financial by 7.1% during the 4th quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $155,000 after purchasing an additional 118 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Jackson Financial by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 407,104 shares of the company’s stock worth $37,140,000 after purchasing an additional 1,152 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Jackson Financial news, Director Gregory T. Durant purchased 1,500 shares of Jackson Financial stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the acquisition, the director now owns 32,023 shares in the company, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Jackson Financial Trading Up 0.1 %

Shares of JXN opened at $92.50 on Friday. Jackson Financial Inc. has a 1-year low of $48.00 and a 1-year high of $115.22. The company has a 50-day moving average of $94.19 and a 200 day moving average of $90.55. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -7.32 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $3.80 EPS. On average, research analysts expect that Jackson Financial Inc. will post 18.77 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a yield of 3.03%. Jackson Financial’s payout ratio is -22.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on JXN shares. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays dropped their price target on shares of Jackson Financial from $117.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $92.40.

Jackson Financial 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.