Vanguard Group Inc. Sells 596,903 Shares of Jackson Financial Inc. (NYSE:JXN)

Vanguard Group Inc. decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,392,129 shares of the company’s stock after selling 596,903 shares during the quarter. Vanguard Group Inc. owned approximately 0.13% of Jackson Financial worth $817,867,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in JXN. Gordian Capital Singapore Pte Ltd boosted its stake in shares of Jackson Financial by 300.0% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company’s stock worth $1,460,000 after buying an additional 12,000 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Jackson Financial during the fourth quarter worth about $1,160,000. World Investment Advisors LLC acquired a new position in Jackson Financial during the third quarter valued at approximately $31,000. Stifel Financial Corp grew its stake in Jackson Financial by 43.3% in the third quarter. Stifel Financial Corp now owns 47,564 shares of the company’s stock valued at $4,340,000 after purchasing an additional 14,364 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new position in shares of Jackson Financial during the 4th quarter worth approximately $689,000. Institutional investors own 89.96% of the company’s stock.

Insiders Place Their Bets

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the transaction, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on JXN shares. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. Barclays increased their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.40.

Jackson Financial Stock Down 3.0 %

JXN stock opened at $83.15 on Friday. Jackson Financial Inc. has a 1-year low of $62.81 and a 1-year high of $115.22. The business’s 50 day simple moving average is $89.03 and its 200 day simple moving average is $92.84. 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 firm has a market capitalization of $6.04 billion, a PE ratio of 7.26 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last released 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 analysts’ expectations of $1.81 billion. As a group, research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The business 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. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.85%. The ex-dividend date was Tuesday, March 11th. Jackson Financial’s dividend payout ratio is currently 27.95%.

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.