Allspring Global Investments Holdings LLC Trims Stake in Jackson Financial Inc. (NYSE:JXN)

Allspring Global Investments Holdings LLC trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 36.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 109,830 shares of the company’s stock after selling 62,734 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Jackson Financial were worth $9,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC bought a new stake in Jackson Financial during the fourth quarter valued at about $26,000. Blue Trust Inc. raised its stake in shares of Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $34,000 after acquiring an additional 260 shares in the last quarter. R Squared Ltd purchased a new stake in Jackson Financial during the fourth quarter valued at approximately $126,000. Harbor Capital Advisors Inc. acquired a new stake in Jackson Financial in the third quarter valued at approximately $141,000. Finally, CWM LLC grew its holdings in Jackson Financial by 62.0% in the third quarter. CWM LLC now owns 1,660 shares of the company’s stock worth $151,000 after purchasing an additional 635 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Gregory T. Durant purchased 1,500 shares of Jackson Financial stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $90.28 per share, with a total value of $135,420.00. Following the purchase, the director now owns 32,023 shares of the company’s stock, valued at approximately $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Jackson Financial Stock Up 1.3 %

Shares of NYSE JXN opened at $97.91 on Wednesday. The company’s 50-day simple moving average is $91.04 and its 200-day simple moving average is $92.46. Jackson Financial Inc. has a 52-week low of $48.00 and a 52-week high of $115.22. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of -7.75 and a beta of 1.47. 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 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.