MML Investors Services LLC Sells 4,630 Shares of Jackson Financial Inc. (NYSE:JXN)

MML Investors Services LLC trimmed its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 25.8% during the third quarter, HoldingsChannel reports. The fund owned 13,305 shares of the company’s stock after selling 4,630 shares during the quarter. MML Investors Services LLC’s holdings in Jackson Financial were worth $1,214,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new stake in Jackson Financial during the 3rd quarter worth approximately $897,000. Assetmark Inc. grew its holdings in Jackson Financial by 7.9% during the 3rd quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock worth $8,360,000 after acquiring an additional 6,724 shares during the last quarter. Versor Investments LP grew its holdings in Jackson Financial by 145.1% during the 3rd quarter. Versor Investments LP now owns 17,710 shares of the company’s stock worth $1,616,000 after acquiring an additional 10,483 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Jackson Financial by 135.1% during 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, Public Sector Pension Investment Board grew its holdings in Jackson Financial by 6.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 159,611 shares of the company’s stock worth $14,561,000 after acquiring an additional 10,300 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Down 6.0 %

Shares of NYSE JXN opened at $84.91 on Thursday. The company has a market capitalization of $6.27 billion, a P/E ratio of -6.72 and a beta of 1.42. Jackson Financial Inc. has a 52-week low of $47.49 and a 52-week high of $115.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The company’s 50 day moving average price is $99.62 and its 200-day moving average price is $88.13.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm earned $3.80 EPS. Equities analysts forecast that Jackson Financial Inc. will post 18.8 earnings per share for the current year.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.30%. Jackson Financial’s payout ratio is presently -22.15%.

Insider Activity at Jackson Financial

In related news, Director Gregory T. Durant bought 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the transaction, the director now directly owns 32,023 shares of the company’s stock, valued at approximately $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on JXN. Barclays boosted their target price on shares of Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $84.00.

Jackson Financial 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.