Sumitomo Mitsui Trust Holdings Inc. Sells 3,320 Shares of Jackson Financial Inc. (NYSE:JXN)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 37.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,471 shares of the company’s stock after selling 3,320 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Jackson Financial were worth $280,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Advisors Preferred LLC acquired a new stake in shares of Jackson Financial during the 4th quarter valued at about $1,680,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Jackson Financial during the 3rd quarter valued at about $871,000. Vanguard Group Inc. boosted its position in shares of Jackson Financial by 16.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after acquiring an additional 1,518,547 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Jackson Financial by 19.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 78,919 shares of the company’s stock valued at $3,016,000 after acquiring an additional 13,121 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Jackson Financial by 18.4% during the 3rd quarter. New York State Common Retirement Fund now owns 90,173 shares of the company’s stock valued at $3,446,000 after acquiring an additional 14,012 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of JXN stock opened at $69.56 on Friday. Jackson Financial Inc. has a 1 year low of $26.70 and a 1 year high of $70.97. The firm’s 50 day moving average is $61.89 and its 200-day moving average is $52.10. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 7.09 and a beta of 1.57. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm earned $5.66 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Jackson Financial Inc. will post 15.95 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. Jackson Financial’s dividend payout ratio is presently 28.54%.

Analysts Set New Price Targets

JXN has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. The Goldman Sachs Group boosted their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Jefferies Financial Group restated a “hold” rating and issued a $55.00 price target on shares of Jackson Financial in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI boosted their price target on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial has an average rating of “Hold” and an average price target of $61.80.

Insider Transactions at Jackson Financial

In related news, Director Derek G. Kirkland bought 3,500 shares of Jackson Financial stock in a transaction dated Monday, March 4th. The shares were bought at an average cost 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 of the company’s stock, valued at $2,100,206.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.

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.