Federated Hermes Inc. Boosts Stake in Jackson Financial Inc. (NYSE:JXN)

Federated Hermes Inc. grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,010,490 shares of the company’s stock after acquiring an additional 40,828 shares during the period. Federated Hermes Inc. owned about 1.37% of Jackson Financial worth $87,993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in 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 purchasing an additional 153,326 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Jackson Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company’s stock worth $188,522,000 after buying an additional 13,362 shares in the last quarter. Norges Bank bought a new stake in shares of Jackson Financial in the fourth quarter worth $98,767,000. Charles Schwab Investment Management Inc. raised its holdings in Jackson Financial by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company’s stock valued at $93,980,000 after acquiring an additional 28,337 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Jackson Financial by 33.9% during the 4th quarter. JPMorgan Chase & Co. now owns 650,544 shares of the company’s stock valued at $56,649,000 after acquiring an additional 164,800 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $70.18 on Monday. The company has a market cap of $5.10 billion, a PE ratio of 6.13 and a beta of 1.49. Jackson Financial Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $115.22. The firm has a 50-day simple moving average of $87.63 and a 200 day simple moving average of $92.77. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 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 the consensus estimate of $1.81 billion. On average, sell-side analysts anticipate 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 was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 4.56%. This is a boost 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 presently 27.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $97.40.

Insider Activity

In other news, CEO Scott Romine sold 7,000 shares of Jackson Financial 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 sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.