Wells Fargo & Company MN Has $11.41 Million Stake in Jackson Financial Inc. (NYSE:JXN)

Wells Fargo & Company MN trimmed its position in shares of Jackson Financial Inc. (NYSE:JXNFree Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,864 shares of the company’s stock after selling 14,312 shares during the quarter. Wells Fargo & Company MN owned 0.28% of Jackson Financial worth $11,411,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in shares of Jackson Financial during the third quarter worth approximately $28,000. Daiwa Securities Group Inc. bought a new stake in Jackson Financial during the fourth quarter worth $36,000. Headlands Technologies LLC bought a new stake in Jackson Financial during the fourth quarter worth $38,000. Hexagon Capital Partners LLC grew its holdings in Jackson Financial by 113.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,297 shares of the company’s stock worth $66,000 after buying an additional 688 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in Jackson Financial during the fourth quarter worth $77,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods downgraded Jackson Financial from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $75.00 to $80.00 in a report on Tuesday, May 14th. Evercore ISI upped their price target on Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Morgan Stanley upped their price target on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus target price of $62.80.

Get Our Latest Stock Report on Jackson Financial

Jackson Financial Stock Down 0.8 %

Shares of NYSE:JXN opened at $75.41 on Tuesday. The company has a market capitalization of $5.75 billion, a PE ratio of 1.99 and a beta of 1.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. The business has a fifty day moving average price of $70.69 and a two-hundred day moving average price of $58.61. Jackson Financial Inc. has a 1 year low of $28.57 and a 1 year high of $81.52.

Jackson Financial (NYSE:JXNGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.56. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the company earned $3.15 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts forecast that Jackson Financial Inc. will post 16.98 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, June 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.71%. Jackson Financial’s dividend payout ratio is presently 7.40%.

Insider Activity

In related news, COO Devkumar Dilip Ganguly sold 13,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.67, for a total transaction of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

About Jackson Financial

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Jackson Financial (NYSE:JXN)

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