Raymond James Financial Services Advisors Inc. Sells 17,076 Shares of Jackson Financial Inc. (NYSE:JXN)

Raymond James Financial Services Advisors Inc. lowered its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 32.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,326 shares of the company’s stock after selling 17,076 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Jackson Financial were worth $1,860,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Jackson Financial in the 4th quarter valued at approximately $109,000. Vest Financial LLC bought a new position in Jackson Financial during the 4th quarter valued at approximately $241,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Jackson Financial during the fourth quarter valued at $265,000. Capital Asset Advisory Services LLC purchased a new stake in shares of Jackson Financial in the fourth quarter worth $219,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Jackson Financial by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 52,212 shares of the company’s stock valued at $1,996,000 after acquiring an additional 527 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 1.0 %

Jackson Financial stock opened at $65.59 on Thursday. Jackson Financial Inc. has a 1 year low of $26.70 and a 1 year high of $68.97. The firm’s 50 day moving average price is $58.22 and its 200-day moving average price is $49.79. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market cap of $5.08 billion, a P/E ratio of 6.69 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.40 billion. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.66 EPS. On average, equities analysts predict that Jackson Financial Inc. will post 15.59 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 4.27%. The ex-dividend date was Monday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is currently 28.54%.

Insider Buying and Selling at Jackson Financial

In other news, Director Derek G. Kirkland bought 3,500 shares of the stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the transaction, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JXN. Morgan Stanley increased their price objective on shares of Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. The Goldman Sachs Group lifted their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Jefferies Financial Group restated a “hold” rating and set a $55.00 target price on shares of Jackson Financial in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.25.

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.