Harbor Capital Advisors Inc. Trims Stake in Jackson Financial Inc. (NYSE:JXN)

Harbor Capital Advisors Inc. cut its stake in Jackson Financial Inc. (NYSE:JXN) by 14.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,328 shares of the company’s stock after selling 223 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Jackson Financial were worth $116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares 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. Mutual of America Capital Management LLC raised its position in shares of Jackson Financial by 1.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock worth $1,032,000 after purchasing an additional 159 shares during the last quarter. Blue Trust Inc. boosted its stake in Jackson Financial by 232.1% in the 3rd 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. Plato Investment Management Ltd grew its position in Jackson Financial by 10.9% during the 3rd quarter. Plato Investment Management Ltd now owns 2,845 shares of the company’s stock valued at $259,000 after purchasing an additional 279 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Jackson Financial by 4.8% during the 3rd quarter. CIBC Asset Management Inc now owns 7,197 shares of the company’s stock valued at $657,000 after purchasing an additional 331 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Up 3.8 %

Shares of JXN stock opened at $92.09 on Thursday. The stock has a market cap of $6.80 billion, a P/E ratio of -7.29 and a beta of 1.46. Jackson Financial Inc. has a 52 week low of $47.49 and a 52 week high of $115.22. The company’s fifty day simple moving average is $94.88 and its two-hundred day simple moving average is $90.31. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last issued 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 company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the company posted $3.80 EPS. Analysts predict that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.80 annualized dividend and a yield of 3.04%. Jackson Financial’s dividend payout ratio (DPR) is currently -22.15%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JXN. Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and upped their price target for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays lowered their price target on Jackson Financial from $117.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.40.

Insider Buying and Selling at Jackson Financial

In other news, Director Gregory T. Durant bought 1,500 shares of the stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the purchase, the director now directly owns 32,023 shares in the company, valued at approximately $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The acquisition 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.