Triumph Capital Management Buys New Stake in Jackson Financial Inc. (NYSE:JXN)

Triumph Capital Management acquired a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,667 shares of the company’s stock, valued at approximately $444,000.

Several other hedge funds also recently made changes to their positions in JXN. Commonwealth Equity Services LLC grew its holdings in shares of Jackson Financial by 6.2% during the third quarter. Commonwealth Equity Services LLC now owns 162,614 shares of the company’s stock worth $6,215,000 after purchasing an additional 9,476 shares during the last quarter. Xponance Inc. purchased a new position in shares of Jackson Financial during the third quarter worth about $280,000. Maryland State Retirement & Pension System purchased a new position in shares of Jackson Financial during the third quarter worth about $1,026,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Jackson Financial by 3.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 53,402 shares of the company’s stock worth $2,041,000 after purchasing an additional 1,917 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Jackson Financial by 16.3% during the third quarter. Stratos Wealth Partners LTD. now owns 18,088 shares of the company’s stock worth $691,000 after purchasing an additional 2,530 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Derek G. Kirkland acquired 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were purchased at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the acquisition, the director now directly owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Jackson Financial Stock Up 1.1 %

Shares of JXN opened at $69.09 on Thursday. The firm has a market cap of $5.35 billion, a PE ratio of 7.04 and a beta of 1.54. The company’s fifty day moving average is $62.97 and its two-hundred day moving average is $52.83. Jackson Financial Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $70.97. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41.

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

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a $0.70 dividend. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s payout ratio is currently 28.54%.

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.