Western Wealth Management LLC Invests $255,000 in Jackson Financial Inc. (NYSE:JXN)

Western Wealth Management LLC purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,990 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds also recently modified their holdings of JXN. Hsbc Holdings PLC raised its position in shares of Jackson Financial by 45,699.9% during the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock worth $124,043,000 after purchasing an additional 3,234,184 shares during the period. Vanguard Group Inc. raised its position in shares of Jackson Financial by 16.1% during the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after purchasing an additional 1,518,547 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Jackson Financial during the third quarter worth about $19,485,000. International Assets Investment Management LLC acquired a new stake in shares of Jackson Financial during the fourth quarter worth about $25,459,000. Finally, Principal Financial Group Inc. raised its position in shares of Jackson Financial by 913.5% during the third quarter. Principal Financial Group Inc. now owns 450,549 shares of the company’s stock worth $17,220,000 after purchasing an additional 406,093 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Up 2.8 %

JXN stock opened at $67.04 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $60.47 and a two-hundred day moving average price of $51.40. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 6.83 and a beta of 1.57. Jackson Financial Inc. has a twelve month low of $26.70 and a twelve month high of $68.97.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.40 billion. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $5.66 EPS. Analysts anticipate that Jackson Financial Inc. will post 15.95 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.70 per share. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Monday, March 11th. Jackson Financial’s payout ratio is currently 28.54%.

Insider Transactions at Jackson Financial

In other Jackson Financial news, Director Derek G. Kirkland bought 3,500 shares of Jackson Financial stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the purchase, the director now owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.