JPMorgan Chase & Co. Sells 11,149 Shares of Jackson Financial Inc. (NYSE:JXN)

JPMorgan Chase & Co. reduced its stake in Jackson Financial Inc. (NYSE:JXN) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,744 shares of the company’s stock after selling 11,149 shares during the quarter. JPMorgan Chase & Co.’s holdings in Jackson Financial were worth $44,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Blue Trust Inc. lifted its stake in Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after purchasing an additional 260 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Jackson Financial by 2,173.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,046 shares of the company’s stock worth $78,000 after buying an additional 1,000 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Jackson Financial during the third quarter valued at approximately $141,000. GAMMA Investing LLC raised its stake in shares of Jackson Financial by 114.2% during the third quarter. GAMMA Investing LLC now owns 1,660 shares of the company’s stock worth $151,000 after acquiring an additional 885 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Jackson Financial by 62.0% in the 3rd quarter. CWM LLC now owns 1,660 shares of the company’s stock worth $151,000 after acquiring an additional 635 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on JXN shares. Barclays lifted their price objective on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $74.00 to $95.00 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Jackson Financial Price Performance

JXN opened at $89.36 on Monday. The stock’s 50 day moving average price is $97.07 and its 200-day moving average price is $89.44. Jackson Financial Inc. has a 52-week low of $47.49 and a 52-week high of $115.22. The stock has a market capitalization of $6.60 billion, a PE ratio of -7.07 and a beta of 1.42. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data 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 business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm posted $3.80 earnings per share. On average, equities research analysts predict that Jackson Financial Inc. will post 18.8 EPS for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Thursday, December 5th. Jackson Financial’s dividend payout ratio (DPR) is presently -22.15%.

Insider Transactions at Jackson Financial

In related news, Director Gregory T. Durant purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

About Jackson Financial

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.