Russell Investments Group Ltd. Reduces Stock Position in Jackson Financial Inc. (NYSE:JXN)

Russell Investments Group Ltd. lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 268,287 shares of the company’s stock after selling 42,926 shares during the period. Russell Investments Group Ltd. owned 0.34% of Jackson Financial worth $13,729,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JXN. Vanguard Group Inc. increased its holdings in shares of Jackson Financial by 16.1% in the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after purchasing an additional 1,518,547 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Jackson Financial by 45,699.9% in the third quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock worth $124,043,000 after purchasing an additional 3,234,184 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Jackson Financial by 38.9% in the third quarter. Bank of New York Mellon Corp now owns 1,129,288 shares of the company’s stock worth $43,161,000 after purchasing an additional 316,158 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Jackson Financial by 38.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 985,691 shares of the company’s stock worth $37,673,000 after purchasing an additional 273,422 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Jackson Financial by 11.9% in the third quarter. American Century Companies Inc. now owns 961,875 shares of the company’s stock worth $36,763,000 after purchasing an additional 102,671 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

NYSE JXN opened at $71.16 on Friday. The company has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $53.24. 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 12-month low of $26.70 and a 12-month high of $71.66. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 7.25 and a beta of 1.54.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (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. During the same period last year, the firm posted $5.66 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Jackson Financial Inc. will post 15.95 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Monday, March 11th. Jackson Financial’s dividend payout ratio is currently 28.54%.

Insider Transactions at Jackson Financial

In other news, Director Derek G. Kirkland bought 3,500 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the acquisition, the director now owns 37,726 shares in the company, valued at approximately $2,100,206.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on JXN. Morgan Stanley upped their price target on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. The Goldman Sachs Group increased their target price on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Evercore ISI increased their target price on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods increased their target price on Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.80.

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.