Jackson Financial Inc. (NYSE:JXN) Shares Sold by RFG Advisory LLC

RFG Advisory LLC lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,864 shares of the company’s stock after selling 4,731 shares during the quarter. RFG Advisory LLC’s holdings in Jackson Financial were worth $1,580,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of JXN. Advisors Preferred LLC purchased a new stake in Jackson Financial during the fourth quarter valued at about $1,680,000. Teachers Retirement System of The State of Kentucky purchased a new position in Jackson Financial in the third quarter valued at approximately $871,000. Vanguard Group Inc. grew its stake in Jackson Financial by 16.1% during the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after buying an additional 1,518,547 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Jackson Financial by 19.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 78,919 shares of the company’s stock worth $3,016,000 after purchasing an additional 13,121 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Jackson Financial during the third quarter worth about $7,644,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JXN has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price target on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods upgraded Jackson Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $49.00 to $68.00 in a research note on Wednesday, February 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $55.00 price target on shares of Jackson Financial in a research note on Tuesday, January 2nd. Finally, Morgan Stanley raised their price objective on Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and a consensus price target of $55.50.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $64.98 on Wednesday. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 6.62 and a beta of 1.57. The business has a 50 day simple moving average of $57.91 and a 200-day simple moving average of $49.68. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41. Jackson Financial Inc. has a twelve month low of $26.70 and a twelve month high of $68.97.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.66 earnings per share. As a group, equities research analysts expect that Jackson Financial Inc. will post 15.59 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 4.31%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is currently 28.54%.

Insider Buying and Selling

In other news, Director Derek G. Kirkland purchased 3,500 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the purchase, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

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.