Principal Financial Group Inc. Has $36.40 Million Holdings in Jackson Financial Inc. (NYSE:JXN)

Principal Financial Group Inc. lifted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 2.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 417,984 shares of the company’s stock after acquiring an additional 10,880 shares during the quarter. Principal Financial Group Inc.’s holdings in Jackson Financial were worth $36,398,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of JXN. Empowered Funds LLC acquired a new position in shares of Jackson Financial during the fourth quarter worth $26,000. World Investment Advisors LLC acquired a new position in shares of Jackson Financial during the third quarter worth $31,000. Blue Trust Inc. lifted its holdings in shares of Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after purchasing an additional 260 shares during the period. R Squared Ltd acquired a new position in shares of Jackson Financial during the fourth quarter worth $126,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Jackson Financial during the third quarter worth $141,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Buying and Selling at Jackson Financial

In related news, Director Gregory T. Durant purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $90.28 per share, with a total value of $135,420.00. Following the completion of the purchase, the director now owns 32,023 shares in the company, valued at approximately $2,891,036.44. This trade represents a 4.91 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $81.63 on Friday. Jackson Financial Inc. has a twelve month low of $48.00 and a twelve month high of $115.22. The firm has a fifty day simple moving average of $90.93 and a 200 day simple moving average of $92.65. The company has a market capitalization of $6.03 billion, a PE ratio of -6.46 and a beta of 1.47. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. On average, sell-side analysts forecast that Jackson Financial Inc. will post 18.85 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be paid 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 3.92%. The ex-dividend date is Tuesday, March 11th. Jackson Financial’s payout ratio is 27.95%.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of recent research reports. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays lifted their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $92.80.

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.