RWC Asset Management LLP Sells 774 Shares of Jackson Financial Inc. (NYSE:JXN)

RWC Asset Management LLP lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 16.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,986 shares of the company’s stock after selling 774 shares during the period. RWC Asset Management LLP’s holdings in Jackson Financial were worth $347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JXN. Creative Planning grew its holdings in shares of Jackson Financial by 10.2% during the 3rd quarter. Creative Planning now owns 4,041 shares of the company’s stock worth $369,000 after acquiring an additional 373 shares during the period. Blue Trust Inc. grew its stake 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 during the period. Sequoia Financial Advisors LLC bought a new position in Jackson Financial in the third quarter worth $244,000. Private Advisor Group LLC lifted its position in Jackson Financial by 10.5% during the third quarter. Private Advisor Group LLC now owns 16,537 shares of the company’s stock valued at $1,509,000 after buying an additional 1,575 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Jackson Financial by 9,363.9% in the 3rd quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after acquiring an additional 932,085 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

JXN has been the subject of several recent research reports. Barclays lifted their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their target price for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $92.80.

Insider Activity

In other news, Director Gregory T. Durant acquired 1,500 shares of Jackson Financial stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the transaction, the director now owns 32,023 shares in the company, valued at $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

NYSE JXN opened at $81.63 on Monday. Jackson Financial Inc. has a one year low of $48.00 and a one year high of $115.22. The stock has a 50-day moving average of $90.93 and a 200 day moving average of $92.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 7.13 and a beta of 1.47.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (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 forecast 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 will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is 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 3.92%. Jackson Financial’s payout ratio is currently 24.45%.

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.