Wedge Capital Management L L P NC Decreases Holdings in Jackson Financial Inc. (NYSE:JXN)

Wedge Capital Management L L P NC lessened its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 9.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 403,871 shares of the company's stock after selling 43,300 shares during the period. Wedge Capital Management L L P NC owned about 0.55% of Jackson Financial worth $35,169,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of JXN. Massachusetts Financial Services Co. MA lifted its position in shares of Jackson Financial by 6.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 127,946 shares of the company's stock worth $9,501,000 after purchasing an additional 8,142 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Jackson Financial by 3.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,084 shares of the company's stock worth $749,000 after acquiring an additional 341 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Jackson Financial by 8.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,743 shares of the company's stock worth $569,000 after acquiring an additional 588 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Jackson Financial by 31.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,386 shares of the company's stock worth $622,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Jackson Financial during the 2nd quarter worth approximately $493,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Transactions at Jackson Financial

In other news, Director Gregory T. Durant purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $90.28 per share, with a total value of $135,420.00. Following the completion of the acquisition, the director now owns 32,023 shares of the company's stock, valued at approximately $2,891,036.44. This represents a 4.91 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

JXN has been the subject of several recent analyst reports. Evercore ISI lowered shares of Jackson Financial from an "in-line" rating to an "underperform" rating and boosted their price objective for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays reduced their price objective on shares of Jackson Financial from $117.00 to $116.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. One research 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 stock presently has a consensus rating of "Hold" and a consensus price target of $92.40.

Jackson Financial Stock Performance

Jackson Financial stock traded up $0.07 during mid-day trading on Friday, reaching $92.50. 444,816 shares of the company traded hands, compared to its average volume of 531,466. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a fifty-two week low of $48.00 and a fifty-two week high of $115.22. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -7.32 and a beta of 1.46. The firm's fifty day moving average is $94.19 and its two-hundred day moving average is $90.55.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing analysts' consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $3.80 EPS. On average, equities research analysts expect that Jackson Financial Inc. will post 18.77 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. Jackson Financial's payout ratio is currently -22.15%.

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.