Fernwood Investment Management LLC Has $594,000 Position in Jackson Financial Inc. (NYSE:JXN)

Fernwood Investment Management LLC trimmed its holdings in Jackson Financial Inc. (NYSE:JXN) by 6.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,825 shares of the company’s stock after selling 500 shares during the quarter. Fernwood Investment Management LLC’s holdings in Jackson Financial were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in Jackson Financial in the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Jackson Financial in the 4th quarter valued at $44,000. Blue Trust Inc. lifted its position in shares of Jackson Financial by 108.1% during the 4th quarter. Blue Trust Inc. now owns 774 shares of the company’s stock valued at $71,000 after acquiring an additional 402 shares during the period. R Squared Ltd bought a new position in Jackson Financial during the fourth quarter worth $126,000. Finally, CIBC Private Wealth Group LLC grew its holdings in Jackson Financial by 904.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,486 shares of the company’s stock worth $132,000 after purchasing an additional 1,338 shares during the period. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Friday, February 28th. Barclays raised their price objective on Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $97.40.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $70.22 on Wednesday. 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 firm’s 50-day simple moving average is $86.16 and its 200 day simple moving average is $92.33. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 6.13 and a beta of 1.49. Jackson Financial Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $115.22.

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 the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. As a group, research analysts anticipate 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 given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.56%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial’s dividend payout ratio is presently 27.95%.

Insiders Place Their Bets

In related news, CEO Scott Romine sold 7,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the sale, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 value of $1,432,598.64. Following the sale, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. This trade 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 currently owned by insiders.

Jackson Financial Company 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.