Jackson Financial Inc. (NYSE:JXN) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC raised its stake in shares of Jackson Financial Inc. (NYSE:JXN – Get Rating) by 10.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,137 shares of the company’s stock after acquiring an additional 1,310 shares during the period. MML Investors Services LLC’s holdings in Jackson Financial were worth $392,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. EJF Capital LLC grew its holdings in shares of Jackson Financial by 2,218.3% in the first quarter. EJF Capital LLC now owns 1,759,620 shares of the company’s stock valued at $77,828,000 after purchasing an additional 1,683,720 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Jackson Financial by 38.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,939,256 shares of the company’s stock valued at $105,375,000 after purchasing an additional 1,088,980 shares in the last quarter. State Street Corp grew its holdings in shares of Jackson Financial by 88.6% in the second quarter. State Street Corp now owns 2,238,285 shares of the company’s stock valued at $59,874,000 after purchasing an additional 1,051,563 shares in the last quarter. Dodge & Cox grew its holdings in shares of Jackson Financial by 26.7% in the second quarter. Dodge & Cox now owns 4,154,006 shares of the company’s stock valued at $111,120,000 after purchasing an additional 876,585 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Jackson Financial by 517.5% in the third quarter. Dimensional Fund Advisors LP now owns 991,203 shares of the company’s stock valued at $27,507,000 after purchasing an additional 830,676 shares in the last quarter. 82.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JXN. Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $46.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, February 21st. Evercore ISI lifted their price target on shares of Jackson Financial to $38.00 in a research note on Wednesday, November 16th. Finally, Morgan Stanley lifted their price target on shares of Jackson Financial from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th.

Jackson Financial Stock Up 2.2 %

Shares of Jackson Financial stock opened at $43.54 on Thursday. The company has a market capitalization of $3.62 billion, a P/E ratio of 0.69 and a beta of 1.67. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.48. Jackson Financial Inc. has a 52-week low of $23.56 and a 52-week high of $49.60. The company has a 50 day moving average of $42.22 and a 200 day moving average of $36.63.

Jackson Financial (NYSE:JXN – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported $5.66 earnings per share for the quarter, topping the consensus estimate of $5.39 by $0.27. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.41 billion. Jackson Financial had a net margin of 42.47% and a return on equity of 14.63%. The company’s revenue was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.48 EPS. As a group, research analysts forecast that Jackson Financial Inc. will post 17.13 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Tuesday, March 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.70%. The ex-dividend date is Monday, March 13th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.55. Jackson Financial’s payout ratio is currently 3.47%.

Jackson Financial Company Profile

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Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.