Raymond James Financial Services Advisors Inc. Cuts Position in Jackson Financial Inc. (NYSE:JXN)

Raymond James Financial Services Advisors Inc. cut its stake in Jackson Financial Inc. (NYSE:JXN – Get Rating) by 10.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,971 shares of the company’s stock after selling 7,232 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Jackson Financial were worth $2,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JXN. Spire Wealth Management grew its stake in shares of Jackson Financial by 77.3% during the fourth quarter. Spire Wealth Management now owns 709 shares of the company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Private Trust Co. NA bought a new position in Jackson Financial during the 4th quarter worth approximately $26,000. Federated Hermes Inc. increased its stake in Jackson Financial by 199.8% in the 3rd quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock worth $38,000 after purchasing an additional 921 shares during the period. Geneos Wealth Management Inc. bought a new stake in Jackson Financial in the fourth quarter valued at approximately $60,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Jackson Financial by 80.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,800 shares of the company’s stock worth $66,000 after purchasing an additional 800 shares during the last quarter. 82.40% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Trading Down 1.9 %

Shares of JXN opened at $29.00 on Thursday. Jackson Financial Inc. has a 1-year low of $23.56 and a 1-year high of $49.60. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average price is $34.52 and its 200-day moving average price is $37.71. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 1.27 and a beta of 1.49.

Jackson Financial (NYSE:JXN – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $3.15 earnings per share for the quarter, missing the consensus estimate of $3.93 by ($0.78). Jackson Financial had a net margin of 42.47% and a return on equity of 14.28%. The firm had revenue of ($749.00) million for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $3.94 earnings per share. Sell-side analysts anticipate that Jackson Financial Inc. will post 15.2 EPS for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 8.55%. The ex-dividend date is Wednesday, May 31st. Jackson Financial’s dividend payout ratio (DPR) is presently 10.88%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JXN. Jefferies Financial Group increased their price target on shares of Jackson Financial from $46.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. The Goldman Sachs Group upped their price target on Jackson Financial from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, April 5th. Finally, Morgan Stanley cut their price objective on Jackson Financial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 12th.

Insider Transactions at Jackson Financial

In other Jackson Financial news, Director Gregory T. Durant acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $30.46 per share, with a total value of $91,380.00. Following the completion of the purchase, the director now directly owns 21,119 shares of the company’s stock, valued at approximately $643,284.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Gregory T. Durant purchased 3,000 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average cost of $30.46 per share, with a total value of $91,380.00. Following the transaction, the director now directly owns 21,119 shares in the company, valued at approximately $643,284.74. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, COO Devkumar Dilip Ganguly sold 13,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $36.57, for a total value of $493,695.00. Following the transaction, the chief operating officer now directly owns 124,412 shares of the company’s stock, valued at approximately $4,549,746.84. The disclosure for this sale can be found here. Insiders have sold 24,648 shares of company stock valued at $907,829 in the last three months. 1.70% of the stock is currently owned by company insiders.

About Jackson Financial

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Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.