Allspring Global Investments Holdings LLC Reduces Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Allspring Global Investments Holdings LLC trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,102 shares of the company’s stock after selling 4,728 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of Jackson Financial worth $8,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Jackson Financial during the 4th quarter valued at about $98,767,000. Assenagon Asset Management S.A. lifted its holdings in Jackson Financial by 385.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company’s stock worth $73,288,000 after purchasing an additional 694,518 shares in the last quarter. First Trust Advisors LP lifted its holdings in Jackson Financial by 13.4% in the 4th quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock worth $360,036,000 after purchasing an additional 487,803 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Jackson Financial by 286.5% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock worth $49,367,000 after purchasing an additional 420,245 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Jackson Financial in the 4th quarter worth approximately $27,193,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $90.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, May 13th. Barclays lifted their price objective on Jackson Financial from $106.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley set a $91.00 price objective on Jackson Financial and gave the stock an “equal weight” rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.80.

Jackson Financial Stock Performance

NYSE JXN opened at $88.96 on Friday. The company has a market cap of $6.36 billion, a P/E ratio of 86.37 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.29 and a current ratio of 0.29. The business’s 50 day moving average price is $84.06 and its 200-day moving average price is $85.07. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.17. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $1.80 billion. Jackson Financial had a return on equity of 15.46% and a net margin of 1.73%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.23 EPS. Sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend was Thursday, June 12th. Jackson Financial’s dividend payout ratio is currently 310.68%.

Insider Buying and Selling at Jackson Financial

In other news, CEO Craig Donald Smith sold 20,607 shares of the business’s 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 transaction, the chief executive officer owned 116,423 shares of the company’s stock, valued at approximately $8,093,726.96. The trade was a 15.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% 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.