Kestra Investment Management LLC Sells 3,680 Shares of Jackson Financial Inc. $JXN

Key Points

• Kestra Investment Management LLC reduced its stake in Jackson Financial Inc. by 43.9% in the first quarter, now holding 4,710 shares valued at $395,000.
• Research analysts have raised target prices for Jackson Financial, with Morgan Stanley setting a new target of $97.00, while Barclays increased it to $114.00, reflecting positive market sentiment.
• Jackson Financial recently declared a quarterly dividend of $0.80 per share, translating to an annualized dividend yield of 3.3%.

Kestra Investment Management LLC trimmed its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 43.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,710 shares of the company's stock after selling 3,680 shares during the quarter. Kestra Investment Management LLC's holdings in Jackson Financial were worth $395,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd grew its position in Jackson Financial by 65.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,670 shares of the company's stock valued at $475,000 after purchasing an additional 2,252 shares during the last quarter. Teza Capital Management LLC purchased a new stake in Jackson Financial during the 1st quarter valued at about $220,000. Millennium Management LLC grew its position in Jackson Financial by 296.7% during the 1st quarter. Millennium Management LLC now owns 658,468 shares of the company's stock valued at $55,166,000 after purchasing an additional 492,492 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company's stock valued at $458,000 after purchasing an additional 1,363 shares during the last quarter. Finally, Banque Transatlantique SA purchased a new stake in Jackson Financial during the 1st quarter valued at about $46,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Stock Performance

Shares of NYSE:JXN traded down $1.31 during trading on Friday, hitting $97.71. The company's stock had a trading volume of 596,003 shares, compared to its average volume of 468,144. The company has a 50-day moving average of $92.16 and a 200-day moving average of $85.56. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of -1,628.30 and a beta of 1.46.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.26. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The firm had revenue of ($471.00) million for the quarter, compared to analysts' expectations of $1.77 billion. During the same quarter in the prior year, the business earned $5.32 EPS. The business's quarterly revenue was down 3.3% on a year-over-year basis. On average, sell-side analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, September 15th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio is -5,333.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Morgan Stanley raised their price target on shares of Jackson Financial from $92.00 to $97.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Barclays raised their price target on shares of Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Jefferies Financial Group raised their price target on shares of Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Jackson Financial has an average rating of "Hold" and a consensus target price of $101.20.

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.