Jackson Financial Inc. (NYSE:JXN) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in Jackson Financial Inc. (NYSE:JXN) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,431 shares of the company’s stock after acquiring an additional 234 shares during the quarter. CIBC Asset Management Inc’s holdings in Jackson Financial were worth $647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JXN. Creative Planning boosted its holdings in Jackson Financial by 10.2% in the third quarter. Creative Planning now owns 4,041 shares of the company’s stock valued at $369,000 after acquiring an additional 373 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after purchasing an additional 260 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Jackson Financial during the third quarter worth about $244,000. Private Advisor Group LLC lifted its stake in shares of Jackson Financial by 10.5% during the third quarter. Private Advisor Group LLC now owns 16,537 shares of the company’s stock worth $1,509,000 after purchasing an additional 1,575 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Jackson Financial by 9,363.9% during the third quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after purchasing an additional 932,085 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Down 4.4 %

Shares of NYSE JXN opened at $81.63 on Friday. Jackson Financial Inc. has a 1 year low of $48.00 and a 1 year high of $115.22. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 7.13 and a beta of 1.47. 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 stock’s 50-day simple moving average is $90.93 and its 200-day simple moving average is $92.79.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. As a group, equities analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.92%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, March 11th. Jackson Financial’s payout ratio is presently 24.45%.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of recent research reports. Evercore ISI cut Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays boosted their price objective on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.80.

Insider Transactions at Jackson Financial

In other news, Director Gregory T. Durant acquired 1,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $90.28 per share, with a total value of $135,420.00. Following the completion of the acquisition, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. This represents a 4.91 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.