Jackson Financial Inc. (NYSE:JXN) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 31.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,991 shares of the company's stock after selling 4,587 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Jackson Financial were worth $837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Richard Bernstein Advisors LLC purchased a new stake in Jackson Financial in the first quarter valued at approximately $3,069,000. Envestnet Asset Management Inc. grew its stake in shares of Jackson Financial by 31.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 19,049 shares of the company's stock valued at $1,596,000 after buying an additional 4,511 shares during the period. World Investment Advisors acquired a new stake in shares of Jackson Financial during the 1st quarter worth $287,000. Principal Financial Group Inc. increased its holdings in shares of Jackson Financial by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 429,789 shares of the company's stock worth $36,008,000 after buying an additional 11,805 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp boosted its holdings in Jackson Financial by 0.3% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 157,876 shares of the company's stock valued at $13,227,000 after acquiring an additional 429 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Stock Up 1.8%

Jackson Financial stock traded up $1.53 during midday trading on Wednesday, hitting $86.38. 561,046 shares of the company were exchanged, compared to its average volume of 795,986. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.29. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22. The company's fifty day moving average price is $85.12 and its 200-day moving average price is $85.00. The company has a market cap of $6.17 billion, a PE ratio of 83.87 and a beta of 1.47.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts' consensus estimates of $4.93 by $0.17. The business had revenue of $3.75 billion for the quarter, compared to analysts' expectations of $1.80 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 15.46%. The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.23 earnings per share. On average, research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.20 dividend on an annualized basis and a yield of 3.70%. Jackson Financial's dividend payout ratio is currently 310.68%.

Analyst Upgrades and Downgrades

Several brokerages have commented on JXN. Barclays upped their price target on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $100.00 to $102.00 and gave the company a "market perform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley set a $91.00 price objective on shares of Jackson Financial and gave the stock an "equal weight" rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $96.40.

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.