Bank of Montreal Can Acquires 810 Shares of Jackson Financial Inc. (NYSE:JXN)

Bank of Montreal Can boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,926 shares of the company’s stock after purchasing an additional 810 shares during the quarter. Bank of Montreal Can’s holdings in Jackson Financial were worth $864,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake in shares of Jackson Financial during the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. purchased a new position in Jackson Financial during the fourth quarter valued at $44,000. Blue Trust Inc. increased its holdings in Jackson Financial by 108.1% in 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 last quarter. R Squared Ltd purchased a new stake in Jackson Financial in the 4th quarter worth $126,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Jackson Financial by 904.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,486 shares of the company’s stock valued at $132,000 after purchasing an additional 1,338 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on JXN shares. Keefe, Bruyette & Woods decreased their target price on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley lowered their target price on 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. Finally, Barclays cut their target price on shares of Jackson Financial from $118.00 to $106.00 and set an “overweight” rating for the company in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $91.40.

Insider Activity at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s 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 transaction, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Craig Donald Smith sold 20,607 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $69.52, for a total value of $1,432,598.64. Following the transaction, the chief executive officer now directly owns 116,423 shares in the company, valued at approximately $8,093,726.96. This represents a 15.04 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Jackson Financial Trading Up 1.1 %

Shares of JXN stock opened at $72.44 on Friday. The company has a market cap of $5.26 billion, a PE ratio of 6.33 and a beta of 1.49. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22. The stock’s 50 day simple moving average is $82.67 and its two-hundred day simple moving average is $91.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share 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. Research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is 27.95%.

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.