Jackson Financial Inc. (NYSE:JXN) Holdings Decreased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 66.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 172,564 shares of the company’s stock after selling 339,124 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Jackson Financial were worth $15,743,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in shares of Jackson Financial by 110.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,156 shares of the company’s stock worth $110,000 after acquiring an additional 1,131 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Jackson Financial during the 4th quarter worth about $209,000. Hexagon Capital Partners LLC lifted its holdings in shares of Jackson Financial by 18.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock valued at $101,000 after buying an additional 235 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new stake in shares of Jackson Financial during the 1st quarter valued at about $205,000. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Jackson Financial in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Buying and Selling at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total transaction of $502,205.00. Following the transaction, the executive vice president now owns 61,829 shares in the company, valued at approximately $5,645,605.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Jackson Financial Trading Down 1.3 %

Shares of NYSE:JXN opened at $98.24 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50-day moving average is $90.55 and its 200-day moving average is $80.59. The company has a market cap of $7.39 billion, a P/E ratio of 3.63 and a beta of 1.50. Jackson Financial Inc. has a 52-week low of $36.06 and a 52-week high of $101.73.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the business earned $3.34 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that Jackson Financial Inc. will post 18.78 earnings per share for the current year.

Jackson Financial declared that its Board of Directors has approved a stock repurchase program on Wednesday, August 7th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.85%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s payout ratio is currently 10.34%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group upped their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Barclays raised their target price on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley increased their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Jackson Financial presently has a consensus rating of “Hold” and a consensus target price of $80.33.

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.