ProShare Advisors LLC Purchases 6,668 Shares of Jackson Financial Inc. (NYSE:JXN)

ProShare Advisors LLC raised its position in Jackson Financial Inc. (NYSE:JXN) by 41.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,579 shares of the company’s stock after buying an additional 6,668 shares during the quarter. ProShare Advisors LLC’s holdings in Jackson Financial were worth $1,966,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Jackson Financial in the 4th quarter valued at $98,767,000. First Trust Advisors LP raised its stake in shares of Jackson Financial by 13.4% in the 4th quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock valued at $360,036,000 after purchasing an additional 487,803 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Jackson Financial by 286.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock valued at $49,367,000 after purchasing an additional 420,245 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Jackson Financial in the fourth quarter valued at about $27,193,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Jackson Financial by 196.4% in the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after purchasing an additional 296,367 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Trading Down 0.3%

Jackson Financial stock opened at $85.05 on Wednesday. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $115.22. 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 has a market capitalization of $6.18 billion, a P/E ratio of 7.43 and a beta of 1.50. The stock has a 50-day simple moving average of $79.89 and a 200 day simple moving average of $88.55.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.17. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business posted $4.23 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, June 12th. Jackson Financial’s payout ratio is currently 310.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JXN. Keefe, Bruyette & Woods raised their price objective on Jackson Financial from $90.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, May 13th. Morgan Stanley raised their price objective on Jackson Financial from $68.00 to $91.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Barclays raised their price objective on Jackson Financial from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. One investment 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’s stock. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and an average price target of $94.80.

Insider Buying and Selling

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Craig Donald Smith sold 20,607 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the sale, the chief executive officer now owns 116,423 shares of the company’s stock, valued at $8,093,726.96. This trade represents a 15.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

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.