Centaurus Financial Inc. Buys 5,800 Shares of Jackson Financial Inc. (NYSE:JXN)

Centaurus Financial Inc. grew its stake in shares of Jackson Financial Inc. (NYSE:JXN – Get Rating) by 45.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,550 shares of the company’s stock after acquiring an additional 5,800 shares during the period. Centaurus Financial Inc.’s holdings in Jackson Financial were worth $515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI grew its position in shares of Jackson Financial by 1,087.9% during the 3rd quarter. National Bank of Canada FI now owns 1,081 shares of the company’s stock valued at $30,000 after acquiring an additional 990 shares during the period. Federated Hermes Inc. grew its position in shares of Jackson Financial by 199.8% during the 3rd quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock valued at $38,000 after acquiring an additional 921 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Jackson Financial by 80.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,800 shares of the company’s stock valued at $66,000 after acquiring an additional 800 shares during the period. Penserra Capital Management LLC bought a new position in shares of Jackson Financial during the 1st quarter valued at approximately $108,000. Finally, River & Mercantile Asset Management LLP grew its position in shares of Jackson Financial by 352,400.0% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 3,525 shares of the company’s stock valued at $91,000 after acquiring an additional 3,524 shares during the period. 82.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,500 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $36.57, for a total value of $493,695.00. Following the sale, the chief operating officer now directly owns 124,412 shares in the company, valued at approximately $4,549,746.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Jackson Financial Stock Down 6.8 %

JXN opened at $34.79 on Friday. The company has a 50 day moving average of $42.58 and a 200 day moving average of $36.84. The company has a market cap of $2.86 billion, a PE ratio of 0.55 and a beta of 1.67. Jackson Financial Inc. has a 12 month low of $23.56 and a 12 month high of $49.60. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

Jackson Financial (NYSE:JXN – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported $5.66 EPS for the quarter, topping the consensus estimate of $5.39 by $0.27. Jackson Financial had a net margin of 42.47% and a return on equity of 14.63%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm earned $7.48 EPS. Jackson Financial’s revenue for the quarter was down 10.9% on a year-over-year basis. On average, sell-side analysts expect that Jackson Financial Inc. will post 17.13 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Tuesday, March 14th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, March 13th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.55. This represents a $2.48 annualized dividend and a yield of 7.13%. Jackson Financial’s dividend payout ratio is currently 3.91%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Jackson Financial from $46.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Morgan Stanley raised their price objective on shares of Jackson Financial from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 10th.

About Jackson Financial

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Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.