QRG Capital Management Inc. Buys 3,041 Shares of Jackson Financial Inc. (NYSE:JXN)

QRG Capital Management Inc. increased its stake in Jackson Financial Inc. (NYSE:JXNFree Report) by 52.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,785 shares of the company’s stock after acquiring an additional 3,041 shares during the period. QRG Capital Management Inc.’s holdings in Jackson Financial were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in JXN. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Jackson Financial by 21.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,200 shares of the company’s stock valued at $543,000 after purchasing an additional 2,539 shares during the last quarter. Yousif Capital Management LLC purchased a new position in Jackson Financial in the 3rd quarter worth approximately $1,372,000. Nisa Investment Advisors LLC lifted its position in Jackson Financial by 240.4% in the third quarter. Nisa Investment Advisors LLC now owns 3,370 shares of the company’s stock valued at $129,000 after purchasing an additional 2,380 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Jackson Financial by 913.5% in the third quarter. Principal Financial Group Inc. now owns 450,549 shares of the company’s stock worth $17,220,000 after purchasing an additional 406,093 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Jackson Financial by 3.9% in the third quarter. California Public Employees Retirement System now owns 155,781 shares of the company’s stock worth $5,954,000 after buying an additional 5,828 shares during the period. Institutional investors own 89.96% of the company’s stock.

Insider Activity at Jackson Financial

In other Jackson Financial news, Director Derek G. Kirkland bought 3,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the purchase, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.67, for a total value of $983,710.00. Following the transaction, the chief operating officer now directly owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Derek G. Kirkland bought 3,500 shares of Jackson Financial stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $55.67 per share, with a total value of $194,845.00. Following the acquisition, the director now owns 37,726 shares in the company, valued at approximately $2,100,206.42. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

JXN has been the subject of several analyst reports. Evercore ISI increased their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods lowered shares of Jackson Financial from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a report on Tuesday, May 14th. Finally, Morgan Stanley boosted their price target on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.80.

Read Our Latest Report on Jackson Financial

Jackson Financial Stock Performance

Shares of JXN opened at $77.97 on Friday. The company has a 50-day simple moving average of $67.59 and a two-hundred day simple moving average of $55.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $5.95 billion, a PE ratio of 2.06 and a beta of 1.54. Jackson Financial Inc. has a one year low of $27.24 and a one year high of $81.52.

Jackson Financial (NYSE:JXNGet Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $1.67 billion. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.15 earnings per share. On average, analysts anticipate that Jackson Financial Inc. will post 16.98 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.80 dividend on an annualized basis and a yield of 3.59%. Jackson Financial’s dividend payout ratio (DPR) is currently 7.40%.

Jackson Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Jackson Financial (NYSE:JXN)

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