Sterling Capital Management LLC Buys 2,139 Shares of Jackson Financial Inc. (NYSE:JXN)

Sterling Capital Management LLC lifted its position in Jackson Financial Inc. (NYSE:JXN) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,663 shares of the company’s stock after buying an additional 2,139 shares during the period. Sterling Capital Management LLC’s holdings in Jackson Financial were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Stifel Financial Corp increased its position in shares of Jackson Financial by 43.3% during the 3rd quarter. Stifel Financial Corp now owns 47,564 shares of the company’s stock valued at $4,340,000 after purchasing an additional 14,364 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of Jackson Financial during the 3rd quarter worth $253,000. Barclays PLC grew its position in shares of Jackson Financial by 251.6% during the 3rd quarter. Barclays PLC now owns 134,001 shares of the company’s stock valued at $12,223,000 after acquiring an additional 95,893 shares during the period. Geode Capital Management LLC increased its stake in shares of Jackson Financial by 7.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock worth $194,187,000 after purchasing an additional 144,530 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in Jackson Financial in the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $591,010.00. Following the sale, the chief executive officer now owns 85,276 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, CEO Craig Donald Smith sold 20,607 shares of Jackson Financial stock in a transaction on Monday, April 7th. The stock was sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the transaction, the chief executive officer now directly owns 116,423 shares in the company, valued at $8,093,726.96. This represents a 15.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Stock Performance

JXN opened at $72.73 on Tuesday. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 6.35 and a beta of 1.49. Jackson Financial Inc. has a fifty-two week low of $63.16 and a fifty-two week high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The company has a fifty day moving average of $84.31 and a 200 day moving average of $91.77.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. As a group, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.40%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial’s payout ratio is presently 27.95%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley decreased their price objective on shares of Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods decreased their price target on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays lowered their price objective on Jackson Financial from $118.00 to $106.00 and set an “overweight” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $91.40.

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.