Mirae Asset Global Investments Co. Ltd. Acquires 10,529 Shares of Jackson Financial Inc. $JXN

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Jackson Financial Inc. (NYSE:JXN) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 10,529 shares of the company’s stock, valued at approximately $1,362,000.

Other large investors have also recently made changes to their positions in the company. Vise Technologies Inc. increased its position in shares of Jackson Financial by 80.7% during the 3rd quarter. Vise Technologies Inc. now owns 19,288 shares of the company’s stock valued at $2,494,000 after purchasing an additional 8,612 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Jackson Financial by 345.0% in the 3rd quarter. International Assets Investment Management LLC now owns 54,504 shares of the company’s stock worth $7,048,000 after buying an additional 42,257 shares during the last quarter. Partners Wealth Management LLC bought a new position in Jackson Financial during the third quarter valued at about $596,000. VestGen Advisors LLC bought a new position in Jackson Financial during the third quarter valued at about $223,000. Finally, Park Avenue Securities LLC grew its position in Jackson Financial by 6.3% during the third quarter. Park Avenue Securities LLC now owns 2,342 shares of the company’s stock valued at $303,000 after buying an additional 139 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JXN has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Jackson Financial in a research note on Monday, November 2nd. Evercore set a $135.00 price target on shares of Jackson Financial in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $140.00 price target on shares of Jackson Financial in a report on Friday, September 18th. Barclays upped their price objective on Jackson Financial from $151.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $134.80.

Insiders Place Their Bets

In other news, CEO Christopher Raub sold 5,000 shares of Jackson Financial stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the transaction, the chief executive officer owned 42,160 shares in the company, valued at $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

Jackson Financial Stock Down 1.2%

JXN stock opened at $131.13 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.26 and a current ratio of 0.22. The company has a market capitalization of $8.88 billion, a price-to-earnings ratio of 10.78 and a beta of 1.34. Jackson Financial Inc. has a fifty-two week low of $89.67 and a fifty-two week high of $150.00. The stock has a fifty day moving average of $133.45 and a 200-day moving average of $118.64.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $7.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.24 by $0.31. Jackson Financial had a return on equity of 20.46% and a net margin of 13.41%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.07 billion.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, December 3rd. Jackson Financial’s dividend payout ratio (DPR) is currently 29.61%.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S. financial services company focused on retirement planning. Through its subsidiaries, including Jackson National Life Insurance Company, it offers annuity products designed to help individuals build and manage retirement income. Its offerings include variable, fixed, fixed-indexed and registered index-linked annuities.

The company serves individuals and financial professionals across the United States, distributing its products through a network of independent financial advisers and other financial services firms.