Arrowstreet Capital Limited Partnership Has $124.61 Million Stock Position in Jackson Financial Inc. (NYSE:JXN)

Arrowstreet Capital Limited Partnership reduced its position in Jackson Financial Inc. (NYSE:JXN) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,430,944 shares of the company’s stock after selling 16,433 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.94% of Jackson Financial worth $124,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in Jackson Financial in the fourth quarter worth approximately $26,000. World Investment Advisors LLC bought a new stake in Jackson Financial in the third quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Jackson Financial during the 4th quarter worth $44,000. Blue Trust Inc. increased its stake in shares of Jackson Financial by 114.5% during the 4th quarter. Blue Trust Inc. now owns 798 shares of the company’s stock worth $69,000 after purchasing an additional 426 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Jackson Financial during the 4th quarter valued at $126,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Trading Down 3.0 %

Shares of NYSE:JXN opened at $83.15 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50-day moving average is $89.03 and its 200-day moving average is $92.93. The company has a market cap of $6.04 billion, a P/E ratio of 7.26 and a beta of 1.48. Jackson Financial Inc. has a 52-week low of $62.81 and a 52-week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Equities research analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.85%. 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. Jackson Financial’s dividend payout ratio (DPR) is currently 27.95%.

Insider Activity at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the firm’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 transaction of $591,010.00. Following the completion of the transaction, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays increased their target price on shares of 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 raised 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and an average target price of $97.40.

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.