Summit Global Investments Raises Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Summit Global Investments grew its position in shares of Jackson Financial Inc. (NYSE:JXN) by 52.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,960 shares of the company’s stock after buying an additional 4,123 shares during the period. Summit Global Investments’ holdings in Jackson Financial were worth $1,041,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of JXN. Natixis Advisors LLC lifted its holdings in Jackson Financial by 10.9% during the 3rd quarter. Natixis Advisors LLC now owns 16,556 shares of the company’s stock worth $1,510,000 after buying an additional 1,621 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in Jackson Financial by 1.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock worth $1,032,000 after buying an additional 159 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Jackson Financial by 4.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 59,086 shares of the company’s stock worth $5,390,000 after buying an additional 2,740 shares during the last quarter. Quest Partners LLC lifted its holdings in Jackson Financial by 61.5% during the 3rd quarter. Quest Partners LLC now owns 5,621 shares of the company’s stock worth $513,000 after buying an additional 2,140 shares during the last quarter. Finally, Caprock Group LLC bought a new position in Jackson Financial during the 3rd quarter worth approximately $369,000. Institutional investors own 89.96% of the company’s stock.

Insider Activity at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Jackson Financial Trading Up 1.2 %

Shares of NYSE JXN opened at $85.31 on Friday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 7.45 and a beta of 1.48. Jackson Financial Inc. has a 12-month low of $62.81 and a 12-month high of $115.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $89.38 and its 200 day simple moving average is $92.67.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Equities research analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were given a $0.80 dividend. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.75%. The ex-dividend date was Tuesday, March 11th. Jackson Financial’s dividend payout ratio (DPR) is currently 27.95%.

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.