Kestra Investment Management LLC Lowers Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Kestra Investment Management LLC decreased its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 45.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,390 shares of the company's stock after selling 6,878 shares during the period. Kestra Investment Management LLC's holdings in Jackson Financial were worth $731,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp raised its position in Jackson Financial by 4.9% during the third quarter. State Street Corp now owns 3,266,981 shares of the company's stock valued at $298,047,000 after purchasing an additional 153,326 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Jackson Financial by 7.4% during the third quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company's stock valued at $194,187,000 after buying an additional 144,530 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake 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. International Assets Investment Management LLC grew its stake in shares of Jackson Financial by 9,363.9% during the third quarter. International Assets Investment Management LLC now owns 942,039 shares of the company's stock valued at $85,942,000 after buying an additional 932,085 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Jackson Financial by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 417,984 shares of the company's stock valued at $36,398,000 after buying an additional 10,880 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Trading Down 4.4 %

Shares of NYSE JXN traded down $3.77 during trading hours on Friday, hitting $81.63. The company's stock had a trading volume of 1,357,525 shares, compared to its average volume of 527,012. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 7.13 and a beta of 1.47. Jackson Financial Inc. has a 12 month low of $48.00 and a 12 month high of $115.22. The business has a 50-day simple moving average of $90.93 and a 200-day simple moving average of $92.65.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $1.81 billion. On average, analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.92%. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, March 11th. Jackson Financial's payout ratio is presently 24.45%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on JXN shares. Evercore ISI cut Jackson Financial from an "in-line" rating to an "underperform" rating and raised their price objective for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays raised their price objective on Jackson Financial from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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 on Wednesday, December 11th. The shares were acquired at an average cost of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now owns 32,023 shares in the company, valued at $2,891,036.44. The trade was a 4.91 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company's stock.

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.