Daiwa Securities Group Inc. Takes Position in Jackson Financial Inc. (NYSE:JXN)

Daiwa Securities Group Inc. acquired a new stake in Jackson Financial Inc. (NYSE:JXN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 700 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA lifted its stake in Jackson Financial by 10.2% during the fourth quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock valued at $162,000 after purchasing an additional 292 shares during the last quarter. Kendall Capital Management boosted its holdings in shares of Jackson Financial by 0.7% in the fourth quarter. Kendall Capital Management now owns 51,310 shares of the company’s stock valued at $2,627,000 after buying an additional 360 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Jackson Financial by 4.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 9,237 shares of the company’s stock valued at $353,000 after buying an additional 429 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Jackson Financial by 1.0% in the third quarter. Public Employees Retirement System of Ohio now owns 52,212 shares of the company’s stock valued at $1,996,000 after buying an additional 527 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Jackson Financial by 2.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 23,660 shares of the company’s stock valued at $904,000 after buying an additional 540 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Jackson Financial Price Performance

NYSE:JXN opened at $69.56 on Monday. Jackson Financial Inc. has a 52 week low of $26.70 and a 52 week high of $70.97. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 7.09 and a beta of 1.57. The firm’s 50-day simple moving average is $61.89 and its 200 day simple moving average is $52.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 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 analyst estimates of $1.40 billion. During the same quarter last year, the company posted $5.66 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Jackson Financial Inc. will post 15.95 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.03%. 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%.

Insiders Place Their Bets

In other news, Director Derek G. Kirkland acquired 3,500 shares of Jackson Financial stock in a transaction 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 SEC, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.

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.