Jupiter Asset Management Ltd. Trims Stake in Jackson Financial Inc. (NYSE:JXN)

Jupiter Asset Management Ltd. reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 24.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 432,512 shares of the company’s stock after selling 138,472 shares during the quarter. Jupiter Asset Management Ltd. owned 0.59% of Jackson Financial worth $37,663,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of JXN. Amalgamated Bank raised its position in Jackson Financial by 6.0% during the third quarter. Amalgamated Bank now owns 22,251 shares of the company’s stock valued at $2,030,000 after acquiring an additional 1,254 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Jackson Financial in the third quarter valued at approximately $238,000. Principal Financial Group Inc. grew its holdings in Jackson Financial by 0.3% in the third quarter. Principal Financial Group Inc. now owns 407,104 shares of the company’s stock valued at $37,140,000 after purchasing an additional 1,152 shares during the period. Assetmark Inc. grew its holdings in Jackson Financial by 7.9% in the third quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock valued at $8,360,000 after purchasing an additional 6,724 shares during the period. Finally, Atria Investments Inc grew its holdings in Jackson Financial by 35.7% in the third quarter. Atria Investments Inc now owns 5,446 shares of the company’s stock valued at $497,000 after purchasing an additional 1,433 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

NYSE JXN opened at $81.21 on Wednesday. The stock’s fifty day moving average is $90.23 and its two-hundred day moving average is $92.96. The firm has a market capitalization of $5.90 billion, a P/E ratio of 7.09 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a fifty-two week low of $60.00 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN) last posted its 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 business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. On average, research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.94%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s payout ratio is currently 27.95%.

Analyst Ratings Changes

Several analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Finally, Barclays lifted their price target on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Jackson Financial has a consensus rating of “Hold” and a consensus price target of $97.40.

Insider Buying and Selling at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the sale, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Jackson Financial Company 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.