Geode Capital Management LLC Raises Stake in Jackson Financial Inc. (NYSE:JXN)

Geode Capital Management LLC raised its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,099,517 shares of the company’s stock after acquiring an additional 13,362 shares during the period. Geode Capital Management LLC owned about 2.84% of Jackson Financial worth $188,522,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in JXN. State Street Corp grew its holdings in shares of Jackson Financial by 4.9% during the 3rd quarter. State Street Corp now owns 3,266,981 shares of the company’s stock valued at $298,047,000 after purchasing an additional 153,326 shares during the last quarter. Norges Bank purchased a new stake in Jackson Financial during the fourth quarter valued at about $98,767,000. Charles Schwab Investment Management Inc. grew its stake in shares of Jackson Financial by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company’s stock valued at $93,980,000 after buying an additional 28,337 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Jackson Financial by 33.9% in the fourth quarter. JPMorgan Chase & Co. now owns 650,544 shares of the company’s stock worth $56,649,000 after buying an additional 164,800 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Jackson Financial by 196.4% in the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after acquiring an additional 296,367 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the 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 transaction, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays lifted their price target on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus target price of $97.40.

Jackson Financial Price Performance

JXN opened at $70.18 on Monday. The stock’s 50 day moving average price is $87.63 and its 200-day moving average price is $92.77. Jackson Financial Inc. has a 52-week low of $62.81 and a 52-week high of $115.22. The stock has a market capitalization of $5.10 billion, a PE ratio of 6.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. On average, equities research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.80 per share. 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.56%. Jackson Financial’s dividend payout ratio is 27.95%.

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.