Raymond James & Associates Decreases Stake in Jackson Financial Inc. (NYSE:JXN)

Raymond James & Associates lowered its stake in Jackson Financial Inc. (NYSE:JXN) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,818 shares of the company’s stock after selling 2,466 shares during the period. Raymond James & Associates’ holdings in Jackson Financial were worth $2,551,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Jackson Financial in the third quarter worth $28,000. Federated Hermes Inc. raised its holdings in shares of Jackson Financial by 199.8% in the third quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock worth $38,000 after buying an additional 921 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Jackson Financial by 4,347.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,023 shares of the company’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Jackson Financial by 291.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock worth $39,000 after buying an additional 763 shares during the last quarter. Finally, Money Concepts Capital Corp purchased a new position in shares of Jackson Financial in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 1.2 %

JXN stock opened at $64.16 on Tuesday. The firm has a market cap of $4.97 billion, a PE ratio of 6.54 and a beta of 1.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. The firm’s fifty day moving average is $59.11 and its 200 day moving average is $50.43. Jackson Financial Inc. has a one year low of $26.70 and a one year high of $68.97.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.66 EPS. On average, research analysts forecast that Jackson Financial Inc. will post 15.89 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.36%. The ex-dividend date was Monday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is currently 28.54%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on JXN shares. Morgan Stanley raised their price target on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday. Evercore ISI increased their price objective on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $55.00 price objective on shares of Jackson Financial in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Jackson Financial has a consensus rating of “Hold” and a consensus target price of $61.80.

Insider Activity at Jackson Financial

In other news, Director Derek G. Kirkland purchased 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by company 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.