Wells Fargo & Company MN Sells 23,378 Shares of Jackson Financial Inc. (NYSE:JXN)

Wells Fargo & Company MN cut its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,487 shares of the company's stock after selling 23,378 shares during the period. Wells Fargo & Company MN owned 0.29% of Jackson Financial worth $18,416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised 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 worth $155,000 after purchasing an additional 118 shares during the period. Janney Montgomery Scott LLC raised its stake 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 worth $4,416,000 after buying an additional 168 shares during the period. Caprock Group LLC lifted its position in shares of Jackson Financial by 4.3% during 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 in the last quarter. IFP Advisors Inc lifted its position in shares of Jackson Financial by 7.2% during the 4th quarter. IFP Advisors Inc now owns 2,692 shares of the company's stock valued at $234,000 after buying an additional 180 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew 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 valued at $1,572,000 after acquiring an additional 193 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Price Performance

Shares of JXN traded up $0.80 during midday trading on Friday, hitting $72.44. 551,009 shares of the company traded hands, compared to its average volume of 754,699. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 6.33 and a beta of 1.49. The firm has a 50 day moving average of $82.67 and a 200-day moving average of $91.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a 52 week low of $64.04 and a 52 week high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share 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 the consensus estimate of $1.81 billion. On average, analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were given a $0.80 dividend. This is a positive change from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial's dividend payout ratio is 27.95%.

Analyst Ratings Changes

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

Insider Buying and Selling at Jackson Financial

In other news, CEO Craig Donald Smith sold 20,607 shares of Jackson Financial stock in a transaction on Monday, April 7th. The stock was sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the sale, the chief executive officer now directly owns 116,423 shares in the company, valued at approximately $8,093,726.96. This trade represents a 15.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Romine sold 7,000 shares of the company's stock in a transaction dated Friday, March 7th. The stock was 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 in the company, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.