Allspring Global Investments Holdings LLC Sells 285,964 Shares of Jackson Financial Inc. (NYSE:JXN)

Allspring Global Investments Holdings LLC lessened its stake in Jackson Financial Inc. (NYSE:JXN) by 24.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 907,169 shares of the company’s stock after selling 285,964 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Jackson Financial were worth $46,447,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in shares of Jackson Financial in the 3rd quarter valued at about $28,000. Federated Hermes Inc. increased its stake in Jackson Financial by 199.8% in the third quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock valued at $38,000 after purchasing an additional 921 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Jackson Financial by 4,347.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,023 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. PNC Financial Services Group Inc. raised its holdings in Jackson Financial by 291.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock worth $39,000 after purchasing an additional 763 shares during the period. Finally, Money Concepts Capital Corp bought a new position in shares of Jackson Financial during the fourth quarter worth $42,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

JXN has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Jackson Financial from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Evercore ISI lifted their price objective on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday. Jefferies Financial Group reiterated a “hold” rating and issued a $55.00 price objective on shares of Jackson Financial in a research report on Tuesday, January 2nd. The Goldman Sachs Group raised their target price on shares of Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Jackson Financial presently has an average rating of “Hold” and an average target price of $58.20.

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland purchased 3,500 shares of the stock in a transaction on Monday, March 4th. The shares were purchased at an average price of $55.67 per share, with a total value of $194,845.00. Following the transaction, the director now directly owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Jackson Financial Trading Down 0.3 %

NYSE:JXN opened at $65.37 on Friday. The company has a quick ratio of 0.33, a current 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. The company has a market cap of $5.06 billion, a P/E ratio of 6.66 and a beta of 1.57. The business has a 50 day moving average price of $58.53 and a two-hundred day moving average price of $49.90.

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

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors 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 4.28%. The ex-dividend date of this dividend was Monday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is presently 28.54%.

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.