Jackson Financial Inc. (NYSE:JXN) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. boosted its position in Jackson Financial Inc. (NYSE:JXN) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,010,490 shares of the company’s stock after purchasing an additional 40,828 shares during the period. Federated Hermes Inc.’s holdings in Jackson Financial were worth $87,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised 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 worth $298,047,000 after buying an additional 153,326 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Jackson Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company’s stock valued at $188,522,000 after purchasing an additional 13,362 shares in the last quarter. Norges Bank acquired a new position in shares of Jackson Financial in the 4th quarter worth approximately $98,767,000. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 28,337 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Jackson Financial by 33.9% in the 4th quarter. JPMorgan Chase & Co. now owns 650,544 shares of the company’s stock worth $56,649,000 after purchasing an additional 164,800 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Jackson Financial

In other news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Jackson Financial Stock Performance

Shares of JXN stock opened at $70.18 on Monday. Jackson Financial Inc. has a 1-year low of $62.81 and a 1-year high of $115.22. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 6.13 and a beta of 1.49. 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 fifty day simple moving average is $87.63 and its 200-day simple moving average is $92.77.

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 the consensus estimate 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. On average, sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is presently 27.95%.

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.