Kestra Investment Management LLC Sells 6,878 Shares of Jackson Financial Inc. (NYSE:JXN)

Kestra Investment Management LLC reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 45.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,390 shares of the company’s stock after selling 6,878 shares during the quarter. Kestra Investment Management LLC’s holdings in Jackson Financial were worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of JXN. Empowered Funds LLC bought a new position in Jackson Financial in the fourth quarter valued at about $26,000. World Investment Advisors LLC bought a new position in Jackson Financial in the third quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in Jackson Financial by 232.1% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after acquiring an additional 260 shares during the period. R Squared Ltd bought a new position in Jackson Financial in the fourth quarter valued at about $126,000. Finally, Harbor Capital Advisors Inc. bought a new position in Jackson Financial in the third quarter valued at about $141,000. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Up 1.3 %

NYSE JXN opened at $97.91 on Wednesday. The stock’s 50-day moving average price is $91.04 and its 200-day moving average price is $92.46. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 52 week low of $48.00 and a 52 week high of $115.22. The company has a market capitalization of $7.23 billion, a P/E ratio of -7.75 and a beta of 1.47.

Insider Transactions at Jackson Financial

In other Jackson Financial news, Director Gregory T. Durant bought 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the transaction, the director now owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent research reports. Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and increased their target price for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays lowered their target price on Jackson Financial from $117.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Jackson Financial presently has an average rating of “Hold” and an average target price of $92.40.

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.