Jackson Financial Inc. (NYSE:JXN) Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Jackson Financial Inc. (NYSE:JXN) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,431 shares of the company’s stock after acquiring an additional 234 shares during the period. CIBC Asset Management Inc’s holdings in Jackson Financial were worth $647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its stake in Jackson Financial by 4.9% in the third quarter. State Street Corp now owns 3,266,981 shares of the company’s stock valued at $298,047,000 after acquiring an additional 153,326 shares during the period. Geode Capital Management LLC boosted its position in shares of Jackson Financial by 7.4% during the third quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock worth $194,187,000 after buying an additional 144,530 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock worth $95,874,000 after buying an additional 300,520 shares during the period. International Assets Investment Management LLC boosted its position in shares of Jackson Financial by 9,363.9% during the third quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after buying an additional 932,085 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Jackson Financial by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 417,984 shares of the company’s stock worth $36,398,000 after buying an additional 10,880 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Barclays boosted their price objective on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.80.

Insider Buying and Selling at Jackson Financial

In related news, Director Gregory T. Durant purchased 1,500 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $90.28 per share, with a total value of $135,420.00. Following the completion of the acquisition, the director now owns 32,023 shares of the company’s stock, valued at approximately $2,891,036.44. This represents a 4.91 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Stock Performance

JXN opened at $81.63 on Friday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 7.13 and a beta of 1.47. 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 Inc. has a 1-year low of $48.00 and a 1-year high of $115.22. The business has a 50 day moving average price of $90.93 and a two-hundred day moving average price of $92.79.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.92%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is currently 24.45%.

About Jackson Financial

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.