Atria Wealth Solutions Inc. Reduces Stock Position in Jackson Financial Inc. (NYSE:JXN)

Atria Wealth Solutions Inc. lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 35.5% 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 16,603 shares of the company's stock after selling 9,154 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Jackson Financial were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new position in shares of Jackson Financial during the fourth quarter worth $26,000. World Investment Advisors LLC acquired a new stake in shares of Jackson Financial during the 3rd quarter worth approximately $31,000. Blue Trust Inc. boosted its holdings in 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 buying an additional 260 shares in the last quarter. R Squared Ltd acquired a new stake in Jackson Financial during the fourth quarter valued at $126,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Jackson Financial in the 3rd quarter valued at about $141,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Trading Up 1.7 %

Shares of JXN traded up $1.51 during midday trading on Thursday, reaching $88.64. The company had a trading volume of 799,477 shares, compared to its average volume of 616,573. Jackson Financial Inc. has a 1-year low of $52.56 and a 1-year high of $115.22. The stock has a market cap of $6.55 billion, a PE ratio of 7.74 and a beta of 1.47. The firm has a 50 day simple moving average of $90.69 and a 200-day simple moving average of $92.90. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN - Get Free Report) 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. Research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's dividend payout ratio (DPR) is 27.95%.

Analyst Ratings Changes

Several research firms recently weighed in on JXN. Barclays upped their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Evercore ISI cut shares of Jackson Financial from an "in-line" rating to an "underperform" rating and lifted their target price for the stock 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 given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $92.80.

Insider Buying and Selling at Jackson Financial

In other news, Director Gregory T. Durant acquired 1,500 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the acquisition, the director now owns 32,023 shares of the company's stock, valued at $2,891,036.44. This represents a 4.91 % increase 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. 1.30% of the stock is owned by corporate 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.