Assetmark Inc. Purchases 867 Shares of Jackson Financial Inc. (NYSE:JXN)

Assetmark Inc. increased its position in Jackson Financial Inc. (NYSE:JXN) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,508 shares of the company’s stock after purchasing an additional 867 shares during the quarter. Assetmark Inc. owned approximately 0.13% of Jackson Financial worth $8,056,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in JXN. Creative Planning lifted its holdings in Jackson Financial by 10.2% in the third quarter. Creative Planning now owns 4,041 shares of the company’s stock valued at $369,000 after buying an additional 373 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Jackson Financial by 10.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,047 shares of the company’s stock valued at $369,000 after purchasing an additional 396 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Jackson Financial by 4.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 50,539 shares of the company’s stock worth $4,611,000 after purchasing an additional 2,040 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Jackson Financial during the third quarter worth $141,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Jackson Financial by 22.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 89,905 shares of the company’s stock valued at $8,202,000 after purchasing an additional 16,663 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JXN shares. Evercore ISI cut Jackson Financial from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays lifted their price objective 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. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Jackson Financial has a consensus rating of “Hold” and an average target price of $97.40.

Insiders Place Their Bets

In other Jackson Financial news, Director Gregory T. Durant purchased 1,500 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average cost of $90.28 per share, with a total value of $135,420.00. Following the purchase, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Jackson Financial Stock Up 1.7 %

Shares of Jackson Financial stock opened at $84.73 on Friday. The company has a market capitalization of $6.26 billion, a P/E ratio of 7.40 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50-day moving average of $90.46 and a two-hundred day moving average of $92.90. Jackson Financial Inc. has a 1 year low of $58.02 and a 1 year high of $115.22.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. As a group, equities analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be paid a $0.80 dividend. The ex-dividend date is Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 3.78%. Jackson Financial’s dividend payout ratio is presently 27.95%.

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.