Prudential Financial Inc. trimmed its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,230 shares of the company's stock after selling 9,610 shares during the quarter. Prudential Financial Inc. owned 0.16% of Jackson Financial worth $10,383,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in JXN. Empowered Funds LLC bought a new stake in shares of Jackson Financial during the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new stake in Jackson Financial during the 4th quarter worth approximately $44,000. Blue Trust Inc. lifted its stake in Jackson Financial by 108.1% in the 4th quarter. Blue Trust Inc. now owns 774 shares of the company's stock worth $71,000 after purchasing an additional 402 shares in the last quarter. R Squared Ltd bought a new position in Jackson Financial in the 4th quarter valued at $126,000. Finally, GAMMA Investing LLC boosted its holdings in Jackson Financial by 7.1% in 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 period. Hedge funds and other institutional investors own 89.96% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Barclays boosted their target price on Jackson Financial from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $103.00 to $105.00 and gave the company a "market perform" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $97.40.
Read Our Latest Research Report on Jackson Financial
Jackson Financial Price Performance
JXN traded up $1.48 during midday trading on Wednesday, hitting $85.96. The stock had a trading volume of 79,620 shares, compared to its average volume of 880,644. Jackson Financial Inc. has a 1 year low of $62.81 and a 1 year high of $115.22. 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 business has a fifty day moving average of $88.63 and a 200 day moving average of $92.95. The company has a market cap of $6.24 billion, a P/E ratio of 7.51 and a beta of 1.48.
Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.81 billion. As a group, equities analysts forecast 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. Stockholders of record on Tuesday, March 11th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.72%. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's payout ratio is currently 27.95%.
Insider Transactions at Jackson Financial
In other news, CEO Scott Romine sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the transaction, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company's stock.
About Jackson Financial
(
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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