International Assets Investment Management LLC Sells 932,000 Shares of Jackson Financial Inc. (NYSE:JXN)

International Assets Investment Management LLC trimmed its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 98.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,039 shares of the company’s stock after selling 932,000 shares during the quarter. International Assets Investment Management LLC’s holdings in Jackson Financial were worth $881,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. World Investment Advisors LLC bought a new position in shares of Jackson Financial in the 3rd quarter worth about $31,000. Blue Trust Inc. increased its holdings in Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after purchasing an additional 260 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Jackson Financial during the 3rd quarter worth approximately $141,000. GAMMA Investing LLC grew its position in shares of Jackson Financial by 114.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,660 shares of the company’s stock worth $151,000 after buying an additional 885 shares during the period. Finally, CWM LLC increased its stake in shares of Jackson Financial by 62.0% in the 3rd quarter. CWM LLC now owns 1,660 shares of the company’s stock valued at $151,000 after acquiring an additional 635 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on JXN. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays cut their price objective on shares of Jackson Financial from $117.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $92.40.

Jackson Financial Stock Down 1.6 %

Jackson Financial stock opened at $88.45 on Friday. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of -7.00 and a beta of 1.46. The firm’s fifty day moving average price is $96.31 and its two-hundred day moving average price is $89.80. Jackson Financial Inc. has a 1-year low of $47.49 and a 1-year high of $115.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

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

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Thursday, December 5th. Jackson Financial’s payout ratio is currently -22.15%.

Insider Buying and Selling at Jackson Financial

In other news, Director Gregory T. Durant acquired 1,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the purchase, the director now owns 32,023 shares in the company, valued at approximately $2,891,036.44. This represents a 4.91 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.