Pictet Asset Management Holding SA Acquires 1,078 Shares of Jackson Financial Inc. (NYSE:JXN)

Pictet Asset Management Holding SA boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,472 shares of the company’s stock after purchasing an additional 1,078 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Jackson Financial were worth $912,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Jackson Financial during the fourth quarter valued at approximately $98,767,000. Raymond James Financial Inc. purchased a new position in Jackson Financial during the fourth quarter valued at $27,193,000. Victory Capital Management Inc. increased its holdings in Jackson Financial by 196.4% in the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after acquiring an additional 296,367 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Jackson Financial by 6,642.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company’s stock worth $19,716,000 after purchasing an additional 223,060 shares in the last quarter. Finally, Four Tree Island Advisory LLC bought a new position in shares of Jackson Financial during the 4th quarter valued at about $19,298,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JXN has been the topic of several research reports. Barclays lifted their target price on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Jackson Financial has a consensus rating of “Hold” and a consensus price target of $97.40.

Insider Activity at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This represents a 7.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Jackson Financial Price Performance

NYSE:JXN opened at $70.18 on Monday. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 6.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50 day simple moving average of $87.63 and a 200-day simple moving average of $92.77. Jackson Financial Inc. has a 1 year low of $62.81 and a 1 year high of $115.22.

Jackson Financial (NYSE:JXN) last issued its quarterly 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Equities analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were paid a dividend of $0.80 per share. The ex-dividend date was Tuesday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.56%. Jackson Financial’s payout ratio is currently 27.95%.

About Jackson Financial

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.