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

Allspring Global Investments Holdings LLC reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 24.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 907,169 shares of the company’s stock after selling 285,964 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.14% of Jackson Financial worth $46,447,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in JXN. NBC Securities Inc. purchased a new stake in Jackson Financial during the 3rd quarter worth $28,000. Federated Hermes Inc. boosted its position in shares of Jackson Financial by 199.8% in the third quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock worth $38,000 after buying an additional 921 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of 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 buying an additional 1,000 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Jackson Financial by 291.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock valued at $39,000 after buying an additional 763 shares in the last quarter. Finally, Money Concepts Capital Corp purchased a new stake in shares of Jackson Financial during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analysts Set New Price Targets

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

Jackson Financial Trading Down 0.3 %

JXN opened at $65.37 on Friday. The firm’s fifty day moving average price is $58.53 and its 200 day moving average price is $49.90. The stock has a market capitalization of $5.06 billion, a PE ratio of 6.66 and a beta of 1.57. Jackson Financial Inc. has a 12-month low of $26.70 and a 12-month high of $68.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33.

Jackson Financial (NYSE:JXN) last issued its quarterly 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 firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $5.66 EPS. The company’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Jackson Financial Inc. will post 15.59 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were given a $0.70 dividend. This is an increase 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 4.28%. The ex-dividend date was Monday, March 11th. Jackson Financial’s dividend payout ratio (DPR) is presently 28.54%.

Insider Activity

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company’s stock.

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.