Jupiter Asset Management Ltd. Cuts Holdings in Jackson Financial Inc. (NYSE:JXN)

Jupiter Asset Management Ltd. decreased its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 24.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 432,512 shares of the company’s stock after selling 138,472 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Jackson Financial were worth $37,663,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of JXN. Amalgamated Bank increased its holdings in Jackson Financial by 6.0% during the 3rd quarter. Amalgamated Bank now owns 22,251 shares of the company’s stock worth $2,030,000 after purchasing an additional 1,254 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in Jackson Financial during the 3rd quarter worth about $238,000. Principal Financial Group Inc. increased its holdings in Jackson Financial by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 407,104 shares of the company’s stock worth $37,140,000 after purchasing an additional 1,152 shares during the period. Assetmark Inc. increased its holdings in Jackson Financial by 7.9% during the 3rd quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock worth $8,360,000 after purchasing an additional 6,724 shares during the period. Finally, Atria Investments Inc boosted its position in shares of Jackson Financial by 35.7% during the 3rd quarter. Atria Investments Inc now owns 5,446 shares of the company’s stock worth $497,000 after acquiring an additional 1,433 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 0.0 %

Shares of NYSE JXN opened at $81.21 on Wednesday. The stock has a market cap of $5.90 billion, a PE ratio of 7.09 and a beta of 1.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a 52-week low of $60.00 and a 52-week high of $115.22. The business has a 50-day moving average price of $90.23 and a 200 day moving average price of $92.96.

Jackson Financial (NYSE:JXN) last announced its 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 company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Equities research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 is a boost 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 3.94%. Jackson Financial’s dividend payout ratio is 27.95%.

Analysts Set New Price Targets

JXN has been the subject of several analyst reports. Evercore ISI cut Jackson Financial from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Barclays upped their price objective on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $97.40.

Insider Activity at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at $7,199,852.68. This represents a 7.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.