PNC Financial Services Group Inc. Increases Position in Jackson Financial Inc. (NYSE:JXN)

PNC Financial Services Group Inc. lifted its holdings in Jackson Financial Inc. (NYSE:JXN) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,118 shares of the company’s stock after purchasing an additional 199 shares during the period. PNC Financial Services Group Inc.’s holdings in Jackson Financial were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of JXN. Raymond James Financial Inc. acquired a new stake in Jackson Financial in the 4th quarter worth about $27,193,000. Charles Schwab Investment Management Inc. boosted its holdings in Jackson Financial by 40.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock worth $95,874,000 after buying an additional 300,520 shares during the last quarter. Victory Capital Management Inc. boosted 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 worth $38,946,000 after buying an additional 296,367 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Jackson Financial by 6,642.6% during 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 during the last quarter. Finally, Four Tree Island Advisory LLC acquired a new position in shares of Jackson Financial during the 4th quarter worth approximately $19,298,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the transaction, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at $7,199,852.68. The trade was a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JXN. Barclays boosted 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 Jackson Financial from $103.00 to $105.00 and gave the stock 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 given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $97.40.

Jackson Financial Stock Up 1.2 %

Shares of JXN opened at $85.31 on Friday. The firm has a market cap of $6.20 billion, a P/E ratio of 7.45 and a beta of 1.48. Jackson Financial Inc. has a 12-month low of $62.81 and a 12-month high of $115.22. The company’s 50-day moving average price is $89.38 and its 200 day moving average price is $92.67. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. On average, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were given a $0.80 dividend. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial’s payout ratio is currently 27.95%.

Jackson Financial Profile

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.