Paloma Partners Management Co Invests $294,000 in Jackson Financial Inc. (NYSE:JXN)

Paloma Partners Management Co purchased a new position in shares of Jackson Financial Inc. (NYSE:JXN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,447 shares of the company’s stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Jackson Financial during the 4th quarter worth $36,000. Headlands Technologies LLC acquired a new stake in Jackson Financial during the 4th quarter worth $38,000. Kapitalo Investimentos Ltda acquired a new stake in Jackson Financial during the 4th quarter worth $57,000. Finally, Hexagon Capital Partners LLC raised its stake in Jackson Financial by 113.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,297 shares of the company’s stock worth $66,000 after acquiring an additional 688 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

Shares of NYSE:JXN traded up $1.27 during midday trading on Tuesday, hitting $88.45. The stock had a trading volume of 186,484 shares, compared to its average volume of 746,234. The company has a market capitalization of $6.75 billion, a PE ratio of 2.30 and a beta of 1.51. The stock has a 50 day moving average price of $76.53 and a two-hundred day moving average price of $66.28. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 1 year low of $31.40 and a 1 year high of $89.25.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The firm’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.15 EPS. As a group, equities analysts predict that Jackson Financial Inc. will post 17.33 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s dividend payout ratio is currently 7.40%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods lowered shares of Jackson Financial from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $75.00 to $80.00 in a research note on Tuesday, May 14th. Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday. Morgan Stanley lifted their price objective on shares of Jackson Financial from $82.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Finally, Evercore ISI dropped their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.80.

Insider Buying and Selling

In related news, COO Devkumar Dilip Ganguly sold 13,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares of the company’s stock, valued at $7,067,956.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.67, for a total value of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares of the company’s stock, valued at $7,067,956.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Don W. Cummings acquired 1,445 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average cost of $72.70 per share, with a total value of $105,051.50. Following the transaction, the chief financial officer now owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

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.