Prudential Financial Inc. Lowers Position in Jackson Financial Inc. (NYSE:JXN)

Prudential Financial Inc. lessened its stake in Jackson Financial Inc. (NYSE:JXN) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,230 shares of the company’s stock after selling 9,610 shares during the period. Prudential Financial Inc. owned approximately 0.16% of Jackson Financial worth $10,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in JXN. GAMMA Investing LLC grew its position in Jackson Financial by 7.1% in the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $155,000 after acquiring an additional 118 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Jackson Financial by 0.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,707 shares of the company’s stock worth $4,416,000 after purchasing an additional 168 shares in the last quarter. Caprock Group LLC increased its position in shares of Jackson Financial by 4.3% during the 4th quarter. Caprock Group LLC now owns 4,218 shares of the company’s stock valued at $367,000 after purchasing an additional 173 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Jackson Financial by 7.2% during the 4th quarter. IFP Advisors Inc now owns 2,692 shares of the company’s stock valued at $234,000 after buying an additional 180 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Jackson Financial by 1.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 18,048 shares of the company’s stock worth $1,572,000 after buying an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Friday, February 28th. Barclays lifted their target price on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $97.40.

Insider Activity at Jackson Financial

In other news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction that occurred 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 directly owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Jackson Financial Stock Performance

NYSE:JXN opened at $83.15 on Friday. 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 $62.81 and a fifty-two week high of $115.22. The firm has a market cap of $6.04 billion, a PE ratio of 7.26 and a beta of 1.48. The business has a 50 day moving average price of $89.03 and a 200-day moving average price of $92.74.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. Equities research analysts predict 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 was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were paid a $0.80 dividend. The ex-dividend date was Tuesday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a dividend yield of 3.85%. Jackson Financial’s dividend payout ratio (DPR) is presently 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.