Summit Global Investments Has $599,000 Stock Position in Jackson Financial Inc. (NYSE:JXN)

Summit Global Investments raised its position in Jackson Financial Inc. (NYSE:JXN) by 21.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,694 shares of the company’s stock after purchasing an additional 2,100 shares during the quarter. Summit Global Investments’ holdings in Jackson Financial were worth $599,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in JXN. Triumph Capital Management acquired a new position in shares of Jackson Financial in the 4th quarter worth approximately $444,000. Hexagon Capital Partners LLC grew its holdings in shares of Jackson Financial by 113.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,297 shares of the company’s stock worth $66,000 after purchasing an additional 688 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Jackson Financial by 36.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,979,189 shares of the company’s stock valued at $101,334,000 after buying an additional 528,976 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Jackson Financial in the fourth quarter valued at about $38,000. Finally, Atria Wealth Solutions Inc. lifted its position in Jackson Financial by 20.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 36,561 shares of the company’s stock worth $1,872,000 after buying an additional 6,152 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the purchase, the director now 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 can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Jackson Financial Stock Performance

JXN stock opened at $71.16 on Friday. Jackson Financial Inc. has a twelve month low of $26.70 and a twelve month high of $71.66. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The company has a market cap of $5.51 billion, a P/E ratio of 7.25 and a beta of 1.54. The business’s fifty day moving average is $63.70 and its 200-day moving average is $53.24.

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

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.93%. The ex-dividend date was Monday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is presently 28.54%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. 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 upped their price objective on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. The Goldman Sachs Group boosted their target price on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Finally, Evercore ISI raised their price target on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.80.

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.