Russell Investments Group Ltd. Sells 42,926 Shares of Jackson Financial Inc. (NYSE:JXN)

Russell Investments Group Ltd. reduced its stake in Jackson Financial Inc. (NYSE:JXN) by 13.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 268,287 shares of the company’s stock after selling 42,926 shares during the quarter. Russell Investments Group Ltd.’s holdings in Jackson Financial were worth $13,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of Jackson Financial in the third quarter valued at about $28,000. Daiwa Securities Group Inc. purchased a new position in Jackson Financial during the 4th quarter valued at about $36,000. Headlands Technologies LLC purchased a new position in Jackson Financial during the 4th quarter valued at about $38,000. PNC Financial Services Group Inc. increased its position in Jackson Financial by 291.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock valued at $39,000 after purchasing an additional 763 shares during the period. Finally, Planned Solutions Inc. purchased a new position in Jackson Financial during the 4th quarter valued at about $77,000. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JXN. Evercore ISI raised their target price 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. Keefe, Bruyette & Woods raised their target price 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. Morgan Stanley raised 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. Finally, The Goldman Sachs Group raised their target price 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.80.

Insiders Place Their Bets

In related news, Director Derek G. Kirkland bought 3,500 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $55.67 per share, with a total value of $194,845.00. Following the transaction, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Jackson Financial Stock Up 2.5 %

Shares of Jackson Financial stock opened at $71.16 on Friday. The firm’s 50 day moving average price is $63.70 and its 200-day moving average price is $53.24. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. Jackson Financial Inc. has a 52-week low of $26.70 and a 52-week high of $71.66. The company has a market cap of $5.51 billion, a P/E ratio of 7.25 and a beta of 1.54.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data 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 analysts’ expectations of $1.40 billion. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.66 earnings per share. On average, sell-side analysts predict 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. Shareholders 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 3.93%. The ex-dividend date was Monday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s payout ratio is currently 28.54%.

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.