Handelsbanken Fonder AB Boosts Holdings in Jackson Financial Inc. (NYSE:JXN)

Handelsbanken Fonder AB grew its position in shares of Jackson Financial Inc. (NYSE:JXN) by 69.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,900 shares of the company’s stock after purchasing an additional 9,000 shares during the period. Handelsbanken Fonder AB’s holdings in Jackson Financial were worth $1,907,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in Jackson Financial by 4.9% in the 3rd quarter. State Street Corp now owns 3,266,981 shares of the company’s stock worth $298,047,000 after acquiring an additional 153,326 shares during the last quarter. Geode Capital Management LLC lifted its position in Jackson Financial by 7.4% during the third quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock valued at $194,187,000 after purchasing an additional 144,530 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Jackson Financial by 40.0% in the 3rd 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 in the last quarter. Principal Financial Group Inc. raised its position in shares of Jackson Financial by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 417,984 shares of the company’s stock valued at $36,398,000 after buying an additional 10,880 shares in the last quarter. Finally, Vest Financial LLC lifted its holdings in shares of Jackson Financial by 27.4% during the 4th quarter. Vest Financial LLC now owns 395,365 shares of the company’s stock worth $34,428,000 after acquiring an additional 84,999 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

JXN stock opened at $85.09 on Wednesday. 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 $51.59 and a 1 year high of $115.22. The firm has a 50-day moving average of $90.76 and a 200 day moving average of $92.93. The company has a market cap of $6.28 billion, a P/E ratio of 7.43 and a beta of 1.47.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. On average, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.76%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is currently 27.95%.

Wall Street Analyst Weigh In

JXN has been the subject of several research analyst reports. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays boosted their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.80.

Insider Activity

In related news, Director Gregory T. Durant purchased 1,500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. This trade represents a 4.91 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

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.