Rhumbline Advisers Sells 14,056 Shares of Jackson Financial Inc. (NYSE:JXN)

Rhumbline Advisers reduced its stake in Jackson Financial Inc. (NYSE:JXN) by 5.9% in the first quarter, Holdings Channel.com reports. The fund owned 226,104 shares of the company’s stock after selling 14,056 shares during the period. Rhumbline Advisers’ holdings in Jackson Financial were worth $18,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in JXN. Norges Bank bought a new position in Jackson Financial in the 4th quarter worth about $98,767,000. First Trust Advisors LP boosted its position in shares of Jackson Financial by 13.4% in the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock valued at $360,036,000 after acquiring an additional 487,803 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Jackson Financial by 286.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock valued at $49,367,000 after acquiring an additional 420,245 shares during the period. Raymond James Financial Inc. bought a new position in shares of Jackson Financial in the fourth quarter valued at approximately $27,193,000. Finally, Victory Capital Management Inc. boosted its holdings in Jackson Financial by 196.4% in the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after purchasing an additional 296,367 shares during the period. 89.96% of the stock is owned by institutional investors.

Jackson Financial Price Performance

JXN stock opened at $83.37 on Friday. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22. The company has a market cap of $5.96 billion, a P/E ratio of 7.28 and a beta of 1.47. The firm has a 50-day moving average of $79.20 and a 200 day moving average of $86.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.93 by $0.17. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $1.80 billion. Jackson Financial’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $4.23 EPS. On average, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $3.20 annualized dividend and a yield of 3.84%. Jackson Financial’s dividend payout ratio (DPR) is 310.68%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley set a $91.00 price target on shares of Jackson Financial and gave the company an “equal weight” rating in a report on Monday, May 19th. Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $90.00 to $100.00 and gave the company a “market perform” rating in a research note on Tuesday, May 13th. Finally, Barclays lifted their price target on Jackson Financial from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Jackson Financial has an average rating of “Hold” and a consensus target price of $94.80.

Insider Activity at Jackson Financial

In other news, CEO Craig Donald Smith sold 20,607 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $69.52, for a total value of $1,432,598.64. Following the transaction, the chief executive officer now owns 116,423 shares of the company’s stock, valued at approximately $8,093,726.96. The trade was a 15.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.