Skandinaviska Enskilda Banken AB publ Sells 6,800 Shares of Jackson Financial Inc. (NYSE:JXN)

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 42.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,100 shares of the company’s stock after selling 6,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Jackson Financial were worth $789,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Jackson Financial during the 4th quarter valued at about $27,193,000. Charles Schwab Investment Management Inc. increased its stake in Jackson Financial by 40.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock worth $95,874,000 after acquiring an additional 300,520 shares during the last quarter. Victory Capital Management Inc. raised its position in Jackson Financial by 196.4% during the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after purchasing an additional 296,367 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Jackson Financial by 6,642.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company’s stock valued at $19,716,000 after purchasing an additional 223,060 shares during the last quarter. Finally, Four Tree Island Advisory LLC purchased a new position in shares of Jackson Financial in the 4th quarter worth approximately $19,298,000. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

JXN has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Friday, February 28th. Barclays raised their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus price target of $97.40.

Insider Activity

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the transaction, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

JXN opened at $83.24 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $89.67 and a 200 day moving average of $92.83. Jackson Financial Inc. has a 52-week low of $60.99 and a 52-week high of $115.22. The stock has a market cap of $6.05 billion, a P/E ratio of 7.27 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last posted its quarterly 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 firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. As a group, sell-side analysts anticipate 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. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.80 per share. The ex-dividend date 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 dividend yield of 3.84%. Jackson Financial’s dividend payout ratio (DPR) is 27.95%.

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.