Centaurus Financial Inc. Raises Position in Jackson Financial Inc. (NYSE:JXN)

Centaurus Financial Inc. increased its holdings in Jackson Financial Inc. (NYSE:JXN – Get Rating) by 45.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,550 shares of the company’s stock after purchasing an additional 5,800 shares during the quarter. Centaurus Financial Inc.’s holdings in Jackson Financial were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Dodge & Cox raised its position in Jackson Financial by 26.7% in the 2nd quarter. Dodge & Cox now owns 4,154,006 shares of the company’s stock worth $111,120,000 after purchasing an additional 876,585 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Jackson Financial by 4.0% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 4,098,421 shares of the company’s stock worth $113,732,000 after acquiring an additional 159,165 shares during the last quarter. State Street Corp grew its holdings in Jackson Financial by 5.0% in the 3rd quarter. State Street Corp now owns 2,350,244 shares of the company’s stock worth $65,219,000 after acquiring an additional 111,959 shares during the last quarter. Marshall Wace LLP grew its holdings in Jackson Financial by 49.3% in the 3rd quarter. Marshall Wace LLP now owns 2,117,673 shares of the company’s stock worth $58,765,000 after acquiring an additional 698,851 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Jackson Financial by 12.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,765,836 shares of the company’s stock worth $49,001,000 after acquiring an additional 197,175 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

Insider Activity

In related news, COO Devkumar Dilip Ganguly sold 13,500 shares of Jackson Financial stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $36.57, for a total transaction of $493,695.00. Following the completion of the transaction, the chief operating officer now directly owns 124,412 shares of the company’s stock, valued at approximately $4,549,746.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Jackson Financial from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 10th. Jefferies Financial Group raised their price target on shares of Jackson Financial from $46.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st.

Jackson Financial Trading Down 6.8 %

Shares of JXN opened at $34.79 on Friday. The firm’s 50-day moving average price is $42.58 and its 200-day moving average price is $36.84. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 0.55 and a beta of 1.67. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. Jackson Financial Inc. has a 1-year low of $23.56 and a 1-year high of $49.60.

Jackson Financial (NYSE:JXN – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported $5.66 earnings per share for the quarter, beating analysts’ consensus estimates of $5.39 by $0.27. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates 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 for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.48 EPS. Sell-side analysts anticipate that Jackson Financial Inc. will post 17.13 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Tuesday, March 14th will be paid a dividend of $0.62 per share. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, March 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 7.13%. Jackson Financial’s payout ratio is presently 3.91%.

About Jackson Financial

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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.