Commonwealth Equity Services LLC Sells 8,500 Shares of Jackson Financial Inc. (NYSE:JXN)

Commonwealth Equity Services LLC trimmed its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,912 shares of the company's stock after selling 8,500 shares during the period. Commonwealth Equity Services LLC owned approximately 0.20% of Jackson Financial worth $12,793,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Jackson Financial during the 4th quarter valued at about $27,193,000. Charles Schwab Investment Management Inc. boosted its position in shares of Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company's stock valued at $95,874,000 after buying an additional 300,520 shares during the last quarter. Victory Capital Management Inc. grew its holdings in 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 buying an additional 296,367 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Jackson Financial by 6,642.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company's stock valued at $19,716,000 after buying an additional 223,060 shares during the last quarter. Finally, Four Tree Island Advisory LLC bought a new position in Jackson Financial during the 4th quarter valued at $19,298,000. 89.96% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

JXN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $103.00 to $105.00 and gave the company a "market perform" rating in a research report on Friday, February 28th. 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 report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Jackson Financial currently has an average rating of "Hold" and an average price target of $97.40.

Insiders Place Their Bets

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares of the company's stock, valued at $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company's stock.

Jackson Financial Price Performance

Shares of Jackson Financial stock traded up $1.02 during trading on Friday, hitting $85.31. The stock had a trading volume of 8,558,613 shares, compared to its average volume of 673,779. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 7.45 and a beta of 1.48. Jackson Financial Inc. has a 12 month low of $62.81 and a 12 month high of $115.22. The business's 50-day moving average is $89.38 and its 200 day moving average is $92.62. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN - Get Free Report) 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 business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. As a group, sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.75%. Jackson Financial's payout ratio is presently 27.95%.

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.