Cerity Partners LLC Sells 3,087 Shares of Jackson Financial Inc. (NYSE:JXN)

Cerity Partners LLC reduced its position in Jackson Financial Inc. (NYSE:JXN) by 38.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,935 shares of the company’s stock after selling 3,087 shares during the quarter. Cerity Partners LLC’s holdings in Jackson Financial were worth $446,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Jackson Financial during the fourth quarter valued at about $98,767,000. Raymond James Financial Inc. bought a new position in Jackson Financial during the 4th quarter worth approximately $27,193,000. Victory Capital Management Inc. grew its position in Jackson Financial by 196.4% during the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock worth $38,946,000 after acquiring an additional 296,367 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Jackson Financial by 6,642.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company’s stock worth $19,716,000 after purchasing an additional 223,060 shares during the period. Finally, Four Tree Island Advisory LLC bought a new stake in Jackson Financial in the fourth quarter valued at approximately $19,298,000. 89.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays decreased 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. Morgan Stanley dropped their target price on shares of Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods reduced their price target on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $91.40.

Jackson Financial Trading Up 3.0 %

NYSE:JXN opened at $72.62 on Wednesday. The company has a 50-day moving average price of $81.84 and a 200-day moving average price of $90.93. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 6.34 and a beta of 1.49. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. Equities analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 4.41%. Jackson Financial’s payout ratio is currently 27.95%.

Insider Buying and Selling

In other news, CEO Craig Donald Smith sold 20,607 shares of Jackson Financial stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the transaction, 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 is accessible through the SEC website. Also, CEO Scott Romine sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. The trade was a 7.59 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by 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.