Swiss National Bank Sells 1,000 Shares of Jackson Financial Inc. (NYSE:JXN)

Swiss National Bank cut its stake in Jackson Financial Inc. (NYSE:JXN) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,000 shares of the company’s stock after selling 1,000 shares during the period. Swiss National Bank’s holdings in Jackson Financial were worth $12,888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Jackson Financial by 4.9% in the 3rd quarter. State Street Corp now owns 3,266,981 shares of the company’s stock valued at $298,047,000 after purchasing an additional 153,326 shares during the last quarter. Geode Capital Management LLC boosted its position in Jackson Financial by 7.4% during the third quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock valued at $194,187,000 after acquiring an additional 144,530 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Jackson Financial by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company’s stock worth $93,980,000 after acquiring an additional 28,337 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Jackson Financial by 196.4% during the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after purchasing an additional 296,367 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Jackson Financial by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 417,984 shares of the company’s stock worth $36,398,000 after purchasing an additional 10,880 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Price Performance

Shares of JXN opened at $84.20 on Thursday. The business’s fifty day moving average is $89.45 and its 200 day moving average is $92.71. Jackson Financial Inc. has a 12-month low of $62.17 and a 12-month high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.12 billion, a P/E ratio of 7.35 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.80%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s payout ratio is 27.95%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

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

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.