Planned Solutions Inc. Takes Position in Jackson Financial Inc. (NYSE:JXN)

Planned Solutions Inc. purchased a new position in Jackson Financial Inc. (NYSE:JXN) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,500 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new stake in Jackson Financial during the third quarter worth about $871,000. Vanguard Group Inc. raised its stake in Jackson Financial by 16.1% during the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after buying an additional 1,518,547 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Jackson Financial by 58.3% in the second quarter. JPMorgan Chase & Co. now owns 742,492 shares of the company’s stock worth $22,728,000 after acquiring an additional 273,494 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Jackson Financial by 19.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 78,919 shares of the company’s stock worth $3,016,000 after acquiring an additional 13,121 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Jackson Financial by 18.4% during the third quarter. New York State Common Retirement Fund now owns 90,173 shares of the company’s stock valued at $3,446,000 after acquiring an additional 14,012 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 2.4 %

NYSE:JXN opened at $66.14 on Thursday. Jackson Financial Inc. has a one year low of $26.70 and a one year high of $66.96. The business has a fifty day moving average price of $55.05 and a 200-day moving average price of $47.90. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 6.74 and a beta of 1.54. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $5.66 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Jackson Financial Inc. will post 15.59 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. The ex-dividend date was Monday, March 11th. This represents a $2.80 annualized dividend and a yield of 4.23%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s payout ratio is currently 28.54%.

Insiders Place Their Bets

In other news, Director Derek G. Kirkland acquired 3,500 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the transaction, the director now directly owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on JXN shares. Morgan Stanley increased their price objective on shares of Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Keefe, Bruyette & Woods upgraded shares of Jackson Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $49.00 to $68.00 in a report on Wednesday, February 28th. The Goldman Sachs Group increased their target price on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 price target on shares of Jackson Financial in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.50.

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.