Ameriprise Financial Inc. Sells 80,621 Shares of Jackson Financial Inc. (NYSE:JXN)

Ameriprise Financial Inc. trimmed its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 303,224 shares of the company’s stock after selling 80,621 shares during the quarter. Ameriprise Financial Inc.’s holdings in Jackson Financial were worth $26,405,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Jackson Financial by 251.6% in the third quarter. Barclays PLC now owns 134,001 shares of the company’s stock worth $12,223,000 after buying an additional 95,893 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Jackson Financial by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 407,104 shares of the company’s stock worth $37,140,000 after purchasing an additional 1,152 shares in the last quarter. Brookstone Capital Management purchased a new stake in Jackson Financial in the 4th quarter worth approximately $214,000. Assenagon Asset Management S.A. boosted its holdings in Jackson Financial by 586.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 180,253 shares of the company’s stock valued at $15,696,000 after purchasing an additional 153,992 shares during the period. Finally, Ritholtz Wealth Management grew its position in shares of Jackson Financial by 7.1% during the 4th quarter. Ritholtz Wealth Management now owns 19,092 shares of the company’s stock valued at $1,662,000 after purchasing an additional 1,270 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 2.4%

NYSE JXN opened at $89.28 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The stock’s 50-day simple moving average is $79.38 and its two-hundred day simple moving average is $89.09. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 7.80 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.93 by $0.17. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $1.80 billion. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $4.23 earnings per share. Research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, June 12th. Jackson Financial’s dividend payout ratio (DPR) is presently 310.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JXN. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $90.00 to $100.00 and gave the stock a “market perform” rating in a research report on Tuesday. Barclays raised their price target on Jackson Financial from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Morgan Stanley cut their price objective on Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. 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 company’s stock. According to MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $93.80.

Insider Transactions at Jackson Financial

In other news, CEO Craig Donald Smith sold 20,607 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the sale, the chief executive officer now owns 116,423 shares of the company’s stock, valued at approximately $8,093,726.96. This represents a 15.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Romine sold 7,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the sale, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at $7,199,852.68. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

About Jackson Financial

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.