Corebridge Financial Inc. cut its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,890 shares of the company's stock after selling 3,903 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Jackson Financial worth $3,474,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in JXN. GAMMA Investing LLC grew its holdings in shares of Jackson Financial by 7.1% during the 4th quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock valued at $155,000 after purchasing an additional 118 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Jackson Financial by 0.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,707 shares of the company's stock worth $4,416,000 after buying an additional 168 shares during the period. Caprock Group LLC increased its holdings in shares of Jackson Financial by 4.3% in the fourth quarter. Caprock Group LLC now owns 4,218 shares of the company's stock worth $367,000 after buying an additional 173 shares during the period. IFP Advisors Inc lifted its stake in shares of Jackson Financial by 7.2% in the 4th quarter. IFP Advisors Inc now owns 2,692 shares of the company's stock valued at $234,000 after acquiring an additional 180 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Jackson Financial by 1.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 18,048 shares of the company's stock valued at $1,572,000 after acquiring an additional 193 shares during the period. 89.96% of the stock is currently owned by institutional investors.
Insider Activity
In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.30% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on JXN shares. Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $103.00 to $105.00 and gave the stock a "market perform" rating in a research note 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 note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Jackson Financial currently has an average rating of "Hold" and a consensus target price of $97.40.
Get Our Latest Research Report on Jackson Financial
Jackson Financial Trading Down 7.7 %
JXN traded down $5.82 during midday trading on Friday, reaching $70.18. 1,681,377 shares of the company's stock traded hands, compared to its average volume of 742,560. Jackson Financial Inc. has a 52 week low of $62.81 and a 52 week high of $115.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a fifty day moving average of $87.63 and a two-hundred day moving average of $92.73. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 6.13 and a beta of 1.49.
Jackson Financial (NYSE:JXN - Get Free Report) last announced 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 company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. On average, equities analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.
Jackson Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 4.56%. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, March 11th. Jackson Financial's dividend payout ratio (DPR) is currently 27.95%.
Jackson Financial Profile
(
Free Report)
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.
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