Caisse DE Depot ET Placement DU Quebec Has $49.37 Million Stake in Jackson Financial Inc. (NYSE:JXN)

Caisse DE Depot ET Placement DU Quebec raised its position in Jackson Financial Inc. (NYSE:JXN) by 286.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 566,916 shares of the company’s stock after purchasing an additional 420,245 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.77% of Jackson Financial worth $49,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in shares of Jackson Financial in the 4th quarter valued at about $26,000. Quarry LP bought a new position in shares of Jackson Financial in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of Jackson Financial in the fourth quarter valued at about $44,000. Blue Trust Inc. raised its holdings in Jackson Financial by 108.1% during the fourth quarter. Blue Trust Inc. now owns 774 shares of the company’s stock worth $71,000 after acquiring an additional 402 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Jackson Financial during the fourth quarter valued at approximately $79,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Performance

NYSE JXN opened at $77.97 on Friday. The firm has a 50-day moving average of $79.96 and a 200-day moving average of $89.97. 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 stock has a market cap of $5.66 billion, a PE ratio of 6.81 and a beta of 1.49. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22.

Jackson Financial (NYSE:JXN) last posted 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. On average, sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is currently 27.95%.

Insider Transactions at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. The trade was a 7.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig Donald Smith sold 20,607 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were 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 approximately $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. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their price objective on Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods dropped their price target on shares of Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays cut their price target on shares of Jackson Financial from $118.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and an average price target of $91.40.

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.