Russell Investments Group Ltd. Cuts Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Russell Investments Group Ltd. trimmed its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 5.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 350,822 shares of the company's stock after selling 18,718 shares during the period. Russell Investments Group Ltd. owned about 0.47% of Jackson Financial worth $30,479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JXN. GAMMA Investing LLC grew its stake in shares of Jackson Financial by 7.1% during the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock worth $155,000 after purchasing an additional 118 shares during the period. Janney Montgomery Scott LLC raised 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 valued at $4,416,000 after purchasing an additional 168 shares during the last quarter. Caprock Group LLC increased its stake in Jackson Financial by 4.3% in the 4th quarter. Caprock Group LLC now owns 4,218 shares of the company's stock valued at $367,000 after buying an additional 173 shares during the last quarter. IFP Advisors Inc raised its holdings in Jackson Financial by 7.2% during the fourth quarter. IFP Advisors Inc now owns 2,692 shares of the company's stock worth $234,000 after acquiring an additional 180 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in shares of Jackson Financial by 1.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 18,048 shares of the company's stock worth $1,572,000 after purchasing an additional 193 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on JXN shares. Barclays dropped their target price on shares of Jackson Financial from $118.00 to $106.00 and set an "overweight" rating on the stock in a report on Friday. Keefe, Bruyette & Woods reduced 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 research report on Wednesday. Finally, Morgan Stanley reduced their price target on Jackson Financial from $92.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Thursday. One 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. According to data from MarketBeat.com, Jackson Financial has an average rating of "Hold" and a consensus target price of $91.40.

Jackson Financial Price Performance

NYSE JXN traded up $0.73 during trading on Friday, hitting $71.88. 828,924 shares of the company's stock were exchanged, compared to its average volume of 753,341. The company has a market cap of $5.22 billion, a PE ratio of 6.28 and a beta of 1.49. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The stock's 50 day moving average price is $84.68 and its two-hundred day moving average price is $91.90. Jackson Financial Inc. has a fifty-two week low of $63.16 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. Research analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were given a dividend of $0.80 per share. This is a positive change from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial's dividend payout ratio (DPR) 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 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Craig Donald Smith sold 20,607 shares of the firm's 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 directly owns 116,423 shares of the company's stock, valued at $8,093,726.96. This trade represents a 15.04 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Company 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.