Carson Advisory Inc. Trims Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Carson Advisory Inc. reduced its holdings in Jackson Financial Inc. (NYSE:JXN) by 7.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 39,877 shares of the company’s stock after selling 3,003 shares during the period. Jackson Financial comprises approximately 1.9% of Carson Advisory Inc.’s portfolio, making the stock its 10th largest holding. Carson Advisory Inc.’s holdings in Jackson Financial were worth $2,637,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Jackson Financial in the 4th quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in Jackson Financial in the 4th quarter valued at about $38,000. Kapitalo Investimentos Ltda bought a new stake in Jackson Financial in the 4th quarter valued at about $57,000. Finally, Hexagon Capital Partners LLC lifted its position in Jackson Financial by 113.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,297 shares of the company’s stock valued at $66,000 after purchasing an additional 688 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Transactions at Jackson Financial

In other Jackson Financial news, CFO Don W. Cummings acquired 1,445 shares of the stock in a transaction dated Wednesday, June 5th. The shares were bought at an average price of $72.70 per share, with a total value of $105,051.50. Following the purchase, the chief financial officer now directly owns 45,711 shares of the company’s stock, valued at approximately $3,323,189.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Devkumar Dilip Ganguly sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares in the company, valued at $7,067,956.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Don W. Cummings purchased 1,445 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the acquisition, the chief financial officer now directly owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

Jackson Financial stock traded up $3.32 during trading hours on Wednesday, hitting $76.89. 549,081 shares of the company traded hands, compared to its average volume of 751,311. The firm has a market cap of $5.86 billion, a P/E ratio of 2.03 and a beta of 1.51. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.42. The firm’s 50-day simple moving average is $74.33 and its two-hundred day simple moving average is $63.21. Jackson Financial Inc. has a 1-year low of $30.99 and a 1-year high of $81.52.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.56. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.67 billion. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.15 EPS. As a group, analysts forecast that Jackson Financial Inc. will post 16.98 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.70 dividend. The ex-dividend date was Thursday, June 6th. This represents a $2.80 annualized dividend and a dividend yield of 3.64%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on JXN shares. Keefe, Bruyette & Woods downgraded shares of Jackson Financial from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $75.00 to $80.00 in a research report on Tuesday, May 14th. Evercore ISI lowered their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Morgan Stanley raised their target price on shares of Jackson Financial from $82.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their target price on shares of Jackson Financial from $62.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and an average target price of $70.80.

Jackson Financial 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.