Colonial River Wealth Management LLC Sells 1,774 Shares of Jackson Financial Inc. (NYSE:JXN)

Colonial River Wealth Management LLC decreased its position in shares of Jackson Financial Inc. (NYSE:JXNFree Report) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,782 shares of the company’s stock after selling 1,774 shares during the quarter. Colonial River Wealth Management LLC’s holdings in Jackson Financial were worth $1,013,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Jackson Financial by 4.9% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 9,237 shares of the company’s stock valued at $353,000 after acquiring an additional 429 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Jackson Financial by 9.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 6,025 shares of the company’s stock valued at $184,000 after acquiring an additional 500 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Jackson Financial by 1.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,212 shares of the company’s stock valued at $1,996,000 after acquiring an additional 527 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Jackson Financial by 2.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 23,660 shares of the company’s stock valued at $904,000 after acquiring an additional 540 shares during the period. Finally, Mirabella Financial Services LLP lifted its position in shares of Jackson Financial by 6.7% during the 1st quarter. Mirabella Financial Services LLP now owns 9,253 shares of the company’s stock valued at $409,000 after acquiring an additional 585 shares during the period. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $55.00 target price on shares of Jackson Financial in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods upgraded shares of Jackson Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $49.00 to $68.00 in a research note on Wednesday, February 28th. The Goldman Sachs Group boosted their price target on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Finally, Morgan Stanley boosted their price target on shares of Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Jackson Financial currently has a consensus rating of “Hold” and a consensus target price of $55.50.

Read Our Latest Stock Report on JXN

Jackson Financial Stock Down 0.6 %

Shares of NYSE JXN traded down $0.37 during trading on Tuesday, hitting $65.78. The stock had a trading volume of 610,966 shares, compared to its average volume of 859,174. Jackson Financial Inc. has a 12 month low of $26.70 and a 12 month high of $67.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $5.09 billion, a PE ratio of 6.71 and a beta of 1.57. The firm has a fifty day moving average of $56.35 and a two-hundred day moving average of $48.72.

Jackson Financial (NYSE:JXNGet Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm posted $5.66 EPS. Jackson Financial’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Jackson Financial Inc. will post 15.59 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a $0.70 dividend. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 4.26%. Jackson Financial’s dividend payout ratio is presently 28.54%.

Insider Transactions at Jackson Financial

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

Jackson Financial Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Jackson Financial (NYSE:JXN)

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