Assetmark Inc. Buys 867 Shares of Jackson Financial Inc. (NYSE:JXN)

Assetmark Inc. increased its stake in Jackson Financial Inc. (NYSE:JXN) by 0.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 92,508 shares of the company’s stock after purchasing an additional 867 shares during the quarter. Assetmark Inc.’s holdings in Jackson Financial were worth $8,056,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JXN. Gordian Capital Singapore Pte Ltd lifted its stake in Jackson Financial by 300.0% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company’s stock valued at $1,460,000 after acquiring an additional 12,000 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Jackson Financial in the 3rd quarter valued at about $897,000. World Investment Advisors LLC acquired a new stake in Jackson Financial in the 3rd quarter valued at about $31,000. Centaurus Financial Inc. grew its holdings in Jackson Financial by 135.1% during the third quarter. Centaurus Financial Inc. now owns 10,169 shares of the company’s stock worth $928,000 after purchasing an additional 5,844 shares during the period. Finally, Versor Investments LP increased its position in Jackson Financial by 145.1% during the third quarter. Versor Investments LP now owns 17,710 shares of the company’s stock worth $1,616,000 after buying an additional 10,483 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Performance

NYSE:JXN opened at $84.73 on Friday. The stock has a 50 day simple moving average of $90.46 and a 200 day simple moving average of $92.90. The stock has a market cap of $6.26 billion, a P/E ratio of 7.40 and a beta of 1.48. Jackson Financial Inc. has a 1-year low of $58.02 and a 1-year 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.

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 for the quarter, compared to the consensus estimate of $1.81 billion. Research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be paid 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 dividend yield of 3.78%. The ex-dividend date is Tuesday, March 11th. Jackson Financial’s payout ratio is 27.95%.

Insider Buying and Selling

In related news, Director Gregory T. Durant bought 1,500 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the transaction, the director now owns 32,023 shares in the company, valued at $2,891,036.44. The trade was a 4.91 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays lifted their target price on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a 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 assigned a buy rating to the company’s stock. According to MarketBeat, Jackson Financial has an average rating of “Hold” and a consensus target price 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.