Colonial River Investments LLC Sells 5,275 Shares of Jackson Financial Inc. (NYSE:JXN)

Colonial River Investments LLC lowered its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 29.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,800 shares of the company's stock after selling 5,275 shares during the quarter. Colonial River Investments LLC's holdings in Jackson Financial were worth $1,072,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in Jackson Financial in the fourth quarter valued at approximately $1,160,000. New York Life Investment Management LLC bought a new stake in shares of Jackson Financial in the fourth quarter worth $689,000. Deutsche Bank AG increased its holdings in Jackson Financial by 48.9% in the fourth quarter. Deutsche Bank AG now owns 65,617 shares of the company's stock valued at $5,714,000 after buying an additional 21,556 shares during the last quarter. SG Americas Securities LLC lifted its stake in Jackson Financial by 670.0% during the first quarter. SG Americas Securities LLC now owns 15,393 shares of the company's stock worth $1,290,000 after purchasing an additional 13,394 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Jackson Financial by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company's stock valued at $93,980,000 after buying an additional 28,337 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Craig Donald Smith sold 20,607 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on JXN. Morgan Stanley set a $91.00 price target on Jackson Financial and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Barclays lifted their target price on Jackson Financial from $106.00 to $108.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $90.00 to $100.00 and gave the company a "market perform" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Jackson Financial currently has an average rating of "Hold" and an average target price of $94.80.

Jackson Financial Price Performance

NYSE JXN traded up $0.49 during trading on Tuesday, reaching $89.28. 469,659 shares of the company traded hands, compared to its average volume of 818,074. The stock's 50 day moving average price is $82.96 and its two-hundred day moving average price is $85.05. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 86.68 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.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings data 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. Jackson Financial had a net margin of 1.73% and a return on equity of 15.46%. The firm had revenue of $3.75 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter last year, the company posted $4.23 EPS. The company's quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Announces Dividend

The company also recently declared 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. The ex-dividend date was Thursday, June 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.58%. Jackson Financial's dividend payout ratio is 310.68%.

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.