1,134,208 Shares in Jackson Financial Inc. (NYSE:JXN) Bought by Norges Bank

Norges Bank bought a new stake in Jackson Financial Inc. (NYSE:JXN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,134,208 shares of the company’s stock, valued at approximately $98,767,000. Norges Bank owned about 1.54% of Jackson Financial as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Empowered Funds LLC bought a new stake in shares of Jackson Financial during the 4th quarter valued at approximately $26,000. World Investment Advisors LLC acquired a new stake in Jackson Financial in the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Jackson Financial during the fourth quarter worth $44,000. Blue Trust Inc. grew its stake in shares of Jackson Financial by 114.5% during the fourth quarter. Blue Trust Inc. now owns 798 shares of the company’s stock worth $69,000 after buying an additional 426 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Jackson Financial during the fourth quarter worth $126,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Up 0.7 %

Shares of JXN opened at $84.35 on Wednesday. The company has a market capitalization of $6.13 billion, a PE ratio of 7.37 and a beta of 1.48. The stock’s 50-day moving average price is $88.63 and its two-hundred day moving average price is $92.95. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a 12 month low of $62.81 and a 12 month high of $115.22.

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 for the quarter, compared to analyst estimates of $1.81 billion. On average, analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were issued a $0.80 dividend. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 annualized dividend and a yield of 3.79%. Jackson Financial’s payout ratio is presently 27.95%.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the transaction, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. 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, February 20th. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $97.40.

Jackson Financial Company 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.