Alliancebernstein L.P. Sells 9,196 Shares of Jackson Financial Inc. (NYSE:JXN)

Alliancebernstein L.P. lessened its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,437 shares of the company’s stock after selling 9,196 shares during the quarter. Alliancebernstein L.P. owned 0.21% of Jackson Financial worth $13,361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Jackson Financial during the 4th quarter valued at $98,767,000. Raymond James Financial Inc. acquired a new stake in shares of Jackson Financial in the 4th quarter valued at $27,193,000. Victory Capital Management Inc. increased its stake in shares of Jackson Financial by 196.4% in the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after buying an additional 296,367 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Jackson Financial by 6,642.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company’s stock valued at $19,716,000 after buying an additional 223,060 shares during the period. Finally, Four Tree Island Advisory LLC acquired a new stake in shares of Jackson Financial in the 4th quarter valued at $19,298,000. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

JXN stock opened at $77.92 on Thursday. The business’s 50-day moving average price is $85.46 and its two-hundred day moving average price is $92.14. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.66 billion, a PE ratio of 6.81 and a beta of 1.49. Jackson Financial Inc. has a 1-year low of $62.81 and a 1-year high of $115.22.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. As a group, research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 4.11%. Jackson Financial’s payout ratio is currently 27.95%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays lifted their target price on Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods decreased their price objective on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.40.

Insiders Place Their Bets

In other news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Craig Donald Smith sold 20,607 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $69.52, for a total value of $1,432,598.64. Following the completion of the sale, the chief executive officer now owns 116,423 shares in the company, valued at approximately $8,093,726.96. This trade represents a 15.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Jackson Financial Company 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.