Daiwa Securities Group Inc. Takes Position in Jackson Financial Inc. (NYSE:JXN)

Daiwa Securities Group Inc. acquired a new stake in shares of Jackson Financial Inc. (NYSE:JXN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 700 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in Jackson Financial in the third quarter worth $28,000. PNC Financial Services Group Inc. lifted its stake in Jackson Financial by 291.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock worth $39,000 after acquiring an additional 763 shares during the period. Planned Solutions Inc. purchased a new stake in Jackson Financial in the fourth quarter worth $77,000. Private Trust Co. NA lifted its stake in Jackson Financial by 60.6% in the third quarter. Private Trust Co. NA now owns 2,864 shares of the company’s stock worth $109,000 after acquiring an additional 1,081 shares during the period. Finally, SG Americas Securities LLC bought a new position in Jackson Financial in the fourth quarter worth $109,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insiders Place Their Bets

In related news, Director Derek G. Kirkland acquired 3,500 shares of the stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $55.67 per share, with a total value of $194,845.00. Following the transaction, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Jackson Financial Trading Down 0.0 %

Shares of NYSE:JXN opened at $69.56 on Monday. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 7.09 and a beta of 1.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. The stock’s 50-day simple moving average is $61.89 and its two-hundred day simple moving average is $52.30. Jackson Financial Inc. has a 52-week low of $26.70 and a 52-week high of $70.97.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($1.00). The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.40 billion. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $5.66 earnings per share. Analysts expect that Jackson Financial Inc. will post 15.95 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.03%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. Jackson Financial’s dividend payout ratio (DPR) is presently 28.54%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price objective on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Morgan Stanley raised their price target on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 price objective on shares of Jackson Financial in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI increased their price objective on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and a consensus price target of $61.80.

Jackson Financial 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.