Ibex Wealth Advisors Buys New Holdings in Jackson Financial Inc. (NYSE:JXN)

Ibex Wealth Advisors purchased a new position in Jackson Financial Inc. (NYSE:JXN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 195,860 shares of the company’s stock, valued at approximately $17,055,000. Jackson Financial accounts for approximately 2.0% of Ibex Wealth Advisors’ investment portfolio, making the stock its 8th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in JXN. State Street Corp raised its holdings in shares of Jackson Financial by 4.9% during 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 in the last quarter. Geode Capital Management LLC raised its stake 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $95,874,000 after purchasing an additional 300,520 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Jackson Financial by 9,363.9% in the 3rd 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 in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Jackson Financial in the 3rd quarter worth about $40,795,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jackson Financial

In related news, Director Gregory T. Durant bought 1,500 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the purchase, the director now directly owns 32,023 shares of the company’s stock, valued at approximately $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on JXN. 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 report on Thursday, November 14th. Barclays cut their target price on Jackson Financial from $117.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.40.

Jackson Financial Trading Up 1.4 %

Shares of NYSE:JXN traded up $1.35 during trading hours on Wednesday, hitting $96.63. 32,031 shares of the company’s stock traded hands, compared to its average volume of 533,257. The firm has a market capitalization of $7.14 billion, a P/E ratio of -7.66 and a beta of 1.46. The business has a fifty day moving average price of $92.74 and a 200-day moving average price of $91.58. Jackson Financial Inc. has a 1 year low of $48.00 and a 1 year high of $115.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted $3.80 EPS. Equities analysts expect that Jackson Financial Inc. will post 18.85 earnings per share for the current year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, December 5th. Jackson Financial’s dividend payout ratio is presently -22.15%.

Jackson Financial 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.