Cerity Partners LLC Purchases 448 Shares of Jackson Financial Inc. (NYSE:JXN)

Cerity Partners LLC increased its position in shares of Jackson Financial Inc. (NYSE:JXN) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,383 shares of the company’s stock after purchasing an additional 448 shares during the quarter. Cerity Partners LLC’s holdings in Jackson Financial were worth $451,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Jackson Financial during the fourth quarter worth about $98,767,000. Assenagon Asset Management S.A. raised its stake in Jackson Financial by 385.3% during the first quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company’s stock worth $73,288,000 after acquiring an additional 694,518 shares in the last quarter. First Trust Advisors LP raised its stake in Jackson Financial by 13.4% during the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock worth $360,036,000 after acquiring an additional 487,803 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Jackson Financial by 286.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock worth $49,367,000 after acquiring an additional 420,245 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Jackson Financial during the fourth quarter worth about $27,193,000. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on JXN shares. Barclays boosted their target price on Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $100.00 to $102.00 and gave the company a “market perform” rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley set a $91.00 price objective on Jackson Financial and gave the company an “equal weight” rating in a research note on Monday, May 19th. One equities 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $96.40.

Jackson Financial Stock Performance

Jackson Financial stock opened at $88.20 on Friday. The business has a 50 day moving average of $85.49 and a 200-day moving average of $85.01. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $6.30 billion, a P/E ratio of 85.63 and a beta of 1.47.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.17. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $1.80 billion. Jackson Financial had a return on equity of 15.46% and a net margin of 1.73%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.23 earnings per share. On average, equities research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Thursday, June 12th. Jackson Financial’s dividend payout ratio is presently 310.68%.

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.