Alliancebernstein L.P. Sells 9,196 Shares of Jackson Financial Inc. (NYSE:JXN)

Alliancebernstein L.P. lowered its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,437 shares of the company's stock after selling 9,196 shares during the quarter. Alliancebernstein L.P. owned approximately 0.21% of Jackson Financial worth $13,361,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in Jackson Financial in the 4th quarter valued at approximately $98,767,000. Raymond James Financial Inc. bought a new position in shares of Jackson Financial during the fourth quarter valued at $27,193,000. Victory Capital Management Inc. lifted its holdings in shares of Jackson Financial by 196.4% during the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company's stock worth $38,946,000 after purchasing an additional 296,367 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Jackson Financial by 6,642.6% in the fourth 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 bought a new stake in shares of Jackson Financial in the fourth quarter worth $19,298,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Trading Up 1.7 %

Shares of NYSE:JXN traded up $1.24 during midday trading on Tuesday, reaching $74.11. The company's stock had a trading volume of 89,813 shares, compared to its average volume of 751,139. Jackson Financial Inc. has a fifty-two week low of $63.16 and a fifty-two week high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a 50 day moving average price of $84.31 and a two-hundred day moving average price of $91.77. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 6.48 and a beta of 1.49.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.81 billion. As a group, analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were 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 4.32%. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial's payout ratio is 27.95%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JXN. Keefe, Bruyette & Woods cut their target price on Jackson Financial from $105.00 to $90.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley lowered their price objective on Jackson Financial from $92.00 to $86.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, Barclays reduced their target price on Jackson Financial from $118.00 to $106.00 and set an "overweight" rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Jackson Financial presently has a consensus rating of "Hold" and a consensus target price of $91.40.

Insider Buying and Selling

In other news, CEO Craig Donald Smith sold 20,607 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $69.52, for a total value of $1,432,598.64. Following the completion of the sale, the chief executive officer now directly owns 116,423 shares of the company's stock, valued at $8,093,726.96. This represents a 15.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the transaction, the chief executive officer now directly owns 85,276 shares in the company, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Jackson Financial Company 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.