Invesco Ltd. Sells 217,576 Shares of Jackson Financial Inc. (NYSE:JXN)

Invesco Ltd. lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 22.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 745,325 shares of the company's stock after selling 217,576 shares during the period. Invesco Ltd. owned approximately 1.01% of Jackson Financial worth $64,903,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in JXN. Norges Bank purchased a new stake in Jackson Financial in the fourth quarter worth approximately $98,767,000. Raymond James Financial Inc. purchased a new stake in shares of Jackson Financial during the 4th quarter valued at about $27,193,000. Victory Capital Management Inc. boosted its holdings in shares of Jackson Financial by 196.4% in 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 during the last quarter. Nisa Investment Advisors LLC grew its position in Jackson Financial by 6,642.6% during the fourth 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 period. Finally, Four Tree Island Advisory LLC purchased a new stake in Jackson Financial during the fourth quarter valued at approximately $19,298,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Activity

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

Jackson Financial Price Performance

Shares of Jackson Financial stock traded up $0.80 during trading hours on Friday, hitting $72.44. The company's stock had a trading volume of 551,009 shares, compared to its average volume of 754,699. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a 12-month low of $64.04 and a 12-month high of $115.22. The business has a 50 day moving average price of $82.67 and a two-hundred day moving average price of $91.25. The company has a market cap of $5.26 billion, a PE ratio of 6.33 and a beta of 1.49.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share 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 analyst estimates of $1.81 billion. Analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Tuesday, March 11th. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's dividend payout ratio is 27.95%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JXN. Barclays dropped their price target on shares of Jackson Financial from $118.00 to $106.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Morgan Stanley lowered their target price on Jackson Financial from $92.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods reduced their price target on Jackson Financial from $105.00 to $90.00 and set a "market perform" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $91.40.

Jackson Financial 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.