Park Avenue Securities LLC Invests $239,000 in Jackson Financial Inc. (NYSE:JXN)

Park Avenue Securities LLC purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,850 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC purchased a new stake in shares of Jackson Financial in the fourth quarter valued at about $26,000. Quarry LP acquired a new position in Jackson Financial during the fourth quarter worth about $28,000. NBC Securities Inc. purchased a new stake in shares of Jackson Financial in the first quarter valued at about $37,000. SBI Securities Co. Ltd. purchased a new stake in shares of Jackson Financial in the fourth quarter valued at about $44,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Jackson Financial by 161.9% in the first quarter. Versant Capital Management Inc now owns 550 shares of the company’s stock valued at $46,000 after purchasing an additional 340 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on JXN shares. Barclays upped their price objective on shares of Jackson Financial from $106.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $90.00 to $100.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley set a $91.00 price target on Jackson Financial and gave the company an “equal weight” rating in a report on Monday, May 19th. 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 company. According to MarketBeat, Jackson Financial has a consensus rating of “Hold” and an average price target of $94.80.

Jackson Financial Stock Up 2.6%

Shares of Jackson Financial stock opened at $83.56 on Tuesday. The business has a 50-day moving average of $80.28 and a 200-day moving average of $85.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $5.97 billion, a PE ratio of 7.30 and a beta of 1.47. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.17. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $1.80 billion. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $4.23 earnings per share. As a group, equities analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a $0.80 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.20 dividend on an annualized basis and a yield of 3.83%. Jackson Financial’s dividend payout ratio is currently 310.68%.

Insiders Place Their Bets

In other Jackson Financial news, CEO Craig Donald Smith sold 20,607 shares of the firm’s stock in a transaction dated 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 owns 116,423 shares of the company’s stock, valued at $8,093,726.96. This trade represents a 15.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

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.