Benjamin Edwards Inc. Sells 391 Shares of Jackson Financial Inc. (NYSE:JXN)

Benjamin Edwards Inc. reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,523 shares of the company’s stock after selling 391 shares during the quarter. Benjamin Edwards Inc.’s holdings in Jackson Financial were worth $742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP increased its stake in shares of Jackson Financial by 13.4% in the 4th quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock valued at $360,036,000 after buying an additional 487,803 shares during the period. Geode Capital Management LLC raised its holdings in Jackson Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company’s stock worth $188,522,000 after purchasing an additional 13,362 shares during the last quarter. Norges Bank acquired a new position in Jackson Financial during the 4th quarter valued at about $98,767,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Jackson Financial by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company’s stock valued at $93,980,000 after purchasing an additional 28,337 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Jackson Financial by 4.2% during the 4th quarter. Federated Hermes Inc. now owns 1,010,490 shares of the company’s stock worth $87,993,000 after buying an additional 40,828 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Performance

JXN stock opened at $84.37 on Friday. The firm has a market cap of $6.13 billion, a PE ratio of 7.37 and a beta of 1.50. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $79.39 and its two-hundred day moving average price is $89.29. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22.

Jackson Financial (NYSE:JXN) last announced its quarterly 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 company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm posted $4.23 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, June 12th. Jackson Financial’s dividend payout ratio (DPR) is currently 27.95%.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Barclays lifted their price objective on Jackson Financial from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut their target price on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $91.80.

Insider Activity at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the sale, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This represents a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Craig Donald Smith sold 20,607 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was 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 directly owns 116,423 shares in the company, valued at $8,093,726.96. This trade represents a 15.04 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Jackson Financial Company 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.