Norges Bank Takes $98.77 Million Position in Jackson Financial Inc. (NYSE:JXN)

Norges Bank purchased a new position in Jackson Financial Inc. (NYSE:JXN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,134,208 shares of the company’s stock, valued at approximately $98,767,000.

A number of other hedge funds have also recently added to or reduced their stakes in JXN. Cerity Partners LLC lifted its holdings in shares of Jackson Financial by 84.8% in the 3rd quarter. Cerity Partners LLC now owns 8,022 shares of the company’s stock worth $732,000 after purchasing an additional 3,681 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Jackson Financial by 9.6% in the third quarter. The Manufacturers Life Insurance Company now owns 48,918 shares of the company’s stock valued at $4,463,000 after buying an additional 4,290 shares in the last quarter. FMR LLC grew its holdings in shares of Jackson Financial by 106.0% during the third quarter. FMR LLC now owns 174,505 shares of the company’s stock valued at $15,920,000 after buying an additional 89,798 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Jackson Financial by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 3,362 shares of the company’s stock worth $307,000 after acquiring an additional 411 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Jackson Financial by 2.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,631 shares of the company’s stock worth $2,521,000 after acquiring an additional 714 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Trading Up 0.7 %

Shares of JXN stock opened at $84.35 on Wednesday. Jackson Financial Inc. has a 52-week low of $62.81 and a 52-week high of $115.22. The company has a 50-day simple moving average of $88.63 and a two-hundred day simple moving average of $92.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 7.37 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last issued 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were issued a $0.80 dividend. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial’s payout ratio is 27.95%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JXN shares. Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Friday, February 28th. Barclays raised their target price on Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $97.40.

Insider Activity at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total value 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. The trade was a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

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.