Jackson Financial Inc. (NYSE:JXN) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,603 shares of the company's stock after selling 4,107 shares during the quarter. Vestcor Inc's holdings in Jackson Financial were worth $1,881,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JXN. Avantax Advisory Services Inc. raised its stake in shares of Jackson Financial by 7.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,451 shares of the company's stock worth $388,000 after purchasing an additional 290 shares during the last quarter. HighTower Advisors LLC raised its position in Jackson Financial by 74.8% during the fourth quarter. HighTower Advisors LLC now owns 5,823 shares of the company's stock valued at $507,000 after acquiring an additional 2,491 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in Jackson Financial in the fourth quarter valued at approximately $1,654,000. Independent Advisor Alliance grew its holdings in Jackson Financial by 2.7% in the fourth quarter. Independent Advisor Alliance now owns 11,739 shares of the company's stock valued at $1,022,000 after purchasing an additional 309 shares during the period. Finally, Meriwether Wealth & Planning LLC acquired a new stake in Jackson Financial in the fourth quarter valued at approximately $413,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 4.4 %

Jackson Financial stock traded up $3.48 during midday trading on Friday, hitting $82.84. 755,943 shares of the stock were exchanged, compared to its average volume of 640,962. Jackson Financial Inc. has a fifty-two week low of $60.99 and a fifty-two week high of $115.22. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 7.24 and a beta of 1.48. The stock's 50-day simple moving average is $89.81 and its 200 day simple moving average is $92.81. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46.

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Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $1.81 billion. On average, equities analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be given a dividend of $0.80 per share. This is a boost from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Tuesday, March 11th. Jackson Financial's dividend payout ratio (DPR) is presently 27.95%.

Insider Buying and Selling

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction 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 $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays raised their price objective on Jackson Financial from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods increased 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 report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $97.40.

About Jackson Financial

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.