Jackson Financial Inc. (NYSE:JXN) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 195,194 shares of the company’s stock after purchasing an additional 16,467 shares during the period. Lazard Asset Management LLC’s holdings in Jackson Financial were worth $16,996,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Proficio Capital Partners LLC purchased a new stake in shares of Jackson Financial in the 4th quarter valued at approximately $1,160,000. New York Life Investment Management LLC purchased a new stake in shares of Jackson Financial in the 4th quarter valued at approximately $689,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Jackson Financial by 22.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 109,839 shares of the company’s stock valued at $9,565,000 after acquiring an additional 19,934 shares in the last quarter. Barclays PLC lifted its position in shares of Jackson Financial by 251.6% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 valued at $93,980,000 after acquiring an additional 28,337 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on JXN shares. Morgan Stanley reduced their price target on shares of Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $90.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Barclays upped their price target on shares of Jackson Financial from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. One 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.80.

Jackson Financial Stock Up 2.4%

JXN stock opened at $89.28 on Wednesday. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $115.22. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 7.80 and a beta of 1.50. The company has a 50 day moving average of $79.38 and a two-hundred day moving average of $89.09.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.93 by $0.17. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the company earned $4.23 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a $0.80 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.20 dividend on an annualized basis and a yield of 3.58%. Jackson Financial’s payout ratio is 310.68%.

Insiders Place Their Bets

In other news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the transaction, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig Donald Smith sold 20,607 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. This represents a 15.04% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.