Prudential Financial Inc. Lowers Stock Position in Jackson Financial Inc. (NYSE:JXN)

Prudential Financial Inc. cut its holdings in Jackson Financial Inc. (NYSE:JXN) by 7.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 119,230 shares of the company’s stock after selling 9,610 shares during the quarter. Prudential Financial Inc.’s holdings in Jackson Financial were worth $10,383,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of JXN. GAMMA Investing LLC grew its holdings in Jackson Financial by 7.1% in the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $155,000 after purchasing an additional 118 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Jackson Financial by 0.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,707 shares of the company’s stock worth $4,416,000 after buying an additional 168 shares during the last quarter. Caprock Group LLC increased its position in Jackson Financial by 4.3% during the 4th quarter. Caprock Group LLC now owns 4,218 shares of the company’s stock valued at $367,000 after buying an additional 173 shares in the last quarter. IFP Advisors Inc increased its position in Jackson Financial by 7.2% during the 4th quarter. IFP Advisors Inc now owns 2,692 shares of the company’s stock valued at $234,000 after buying an additional 180 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in Jackson Financial by 1.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 18,048 shares of the company’s stock valued at $1,572,000 after buying an additional 193 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Scott Romine sold 7,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares of the company’s stock, valued at $7,199,852.68. This represents a 7.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Jackson Financial Trading Down 3.0 %

Jackson Financial stock opened at $83.15 on Friday. Jackson Financial Inc. has a one year low of $62.81 and a one year high of $115.22. The business’s fifty day moving average is $89.03 and its 200 day moving average is $92.74. The stock has a market capitalization of $6.04 billion, a PE ratio of 7.26 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last announced 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. On average, sell-side analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid 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 dividend on an annualized basis and a yield of 3.85%. Jackson Financial’s payout ratio is currently 27.95%.

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.