Jackson Financial Inc. (NYSE:JXN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,697 shares of the company's stock after selling 8,737 shares during the period. Legal & General Group Plc owned approximately 0.33% of Jackson Financial worth $21,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Jackson Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company's stock worth $188,522,000 after buying an additional 13,362 shares during the last quarter. Norges Bank purchased a new position in shares of Jackson Financial during the 4th quarter worth approximately $98,767,000. Charles Schwab Investment Management Inc. increased its position in Jackson Financial by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company's stock worth $93,980,000 after buying an additional 28,337 shares in the last quarter. Federated Hermes Inc. increased its position in Jackson Financial by 4.2% during the 4th quarter. Federated Hermes Inc. now owns 1,010,490 shares of the company's stock worth $87,993,000 after purchasing an additional 40,828 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Jackson Financial by 33.9% in the fourth quarter. JPMorgan Chase & Co. now owns 650,544 shares of the company's stock valued at $56,649,000 after buying an additional 164,800 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Trading Up 1.1 %

JXN traded up $0.80 on Friday, reaching $72.44. 551,009 shares of the company's stock were exchanged, compared to its average volume of 754,709. Jackson Financial Inc. has a twelve month low of $63.85 and a twelve month high of $115.22. The company's 50 day moving average is $83.07 and its 200-day moving average is $91.37. 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 company has a market cap of $5.26 billion, a price-to-earnings ratio of 6.33 and a beta of 1.49.

Jackson Financial (NYSE:JXN - Get Free Report) last issued 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. Equities analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current 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 paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Tuesday, March 11th. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's payout ratio is currently 27.95%.

Analyst Ratings Changes

JXN has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of Jackson Financial from $92.00 to $86.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Barclays lowered their price target on Jackson Financial from $118.00 to $106.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Jackson Financial from $105.00 to $90.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $91.40.

Insider Activity

In other Jackson Financial news, CEO Craig Donald Smith sold 20,607 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 116,423 shares of the company's stock, valued at $8,093,726.96. This trade represents a 15.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the sale, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. This represents a 7.59 % decrease in their position. The disclosure for this sale can be found here. 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.