Thrivent Financial for Lutherans Decreases Holdings in Jackson Financial Inc. (NYSE:JXN)

Thrivent Financial for Lutherans reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 57,092 shares of the company’s stock after selling 1,994 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Jackson Financial were worth $4,972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of JXN. Gordian Capital Singapore Pte Ltd lifted its stake in Jackson Financial by 300.0% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company’s stock valued at $1,460,000 after purchasing an additional 12,000 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Jackson Financial during the 4th quarter valued at $1,160,000. World Investment Advisors LLC bought a new position in shares of Jackson Financial during the 3rd quarter worth $31,000. Centaurus Financial Inc. increased its holdings in Jackson Financial by 135.1% in the 3rd quarter. Centaurus Financial Inc. now owns 10,169 shares of the company’s stock worth $928,000 after acquiring an additional 5,844 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in Jackson Financial by 43.3% in the 3rd quarter. Stifel Financial Corp now owns 47,564 shares of the company’s stock valued at $4,340,000 after acquiring an additional 14,364 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Price Performance

Shares of NYSE:JXN opened at $88.57 on Tuesday. The company has a 50 day moving average of $89.44 and a 200 day moving average of $92.76. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.43 billion, a P/E ratio of 7.74 and a beta of 1.48. Jackson Financial Inc. has a 12 month low of $62.81 and a 12 month high of $115.22.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. As a group, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.61%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is presently 27.95%.

Insider Activity

In other news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the sale, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on JXN. Barclays lifted their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. One equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $97.40.

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.