Allspring Global Investments Holdings LLC Lowers Stock Position in Jackson Financial Inc. (NYSE:JXN)

Allspring Global Investments Holdings LLC cut its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,830 shares of the company's stock after selling 62,734 shares during the period. Allspring Global Investments Holdings LLC owned about 0.15% of Jackson Financial worth $9,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of JXN. Empowered Funds LLC acquired a new stake in Jackson Financial in the fourth quarter valued at $26,000. World Investment Advisors LLC acquired a new stake in Jackson Financial in the third quarter valued at $31,000. Blue Trust Inc. raised its stake in Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $34,000 after buying an additional 260 shares in the last quarter. R Squared Ltd acquired a new stake in Jackson Financial in the fourth quarter valued at $126,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Jackson Financial in the third quarter valued at $141,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

Shares of JXN traded down $3.77 during midday trading on Friday, reaching $81.63. 1,357,525 shares of the stock were exchanged, compared to its average volume of 527,012. The business's 50-day moving average price is $90.93 and its 200 day moving average price is $92.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a twelve month low of $48.00 and a twelve month high of $115.22. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 7.13 and a beta of 1.47.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. On average, sell-side analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.80 per share. The ex-dividend date is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.92%. This is a positive change from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's dividend payout ratio (DPR) is currently 24.45%.

Insider Buying and Selling

In related news, Director Gregory T. Durant purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $90.28 per share, with a total value of $135,420.00. Following the completion of the acquisition, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. This represents a 4.91 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on JXN. Barclays raised their price target on Jackson Financial from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday. Evercore ISI cut Jackson Financial from an "in-line" rating to an "underperform" rating and raised their price target for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.