Man Group plc Lowers Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Man Group plc cut its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 52.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,001 shares of the company's stock after selling 3,315 shares during the period. Man Group plc's holdings in Jackson Financial were worth $261,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Jackson Financial in the 4th quarter valued at about $98,767,000. First Trust Advisors LP grew its position in shares of 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 buying an additional 487,803 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Jackson Financial by 286.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company's stock valued at $49,367,000 after acquiring an additional 420,245 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Jackson Financial during the 4th quarter worth $27,193,000. Finally, Victory Capital Management Inc. raised its stake in Jackson Financial by 196.4% in the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company's stock valued at $38,946,000 after buying an additional 296,367 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Up 0.7%

JXN traded up $0.60 on Thursday, hitting $82.71. 482,802 shares of the company were exchanged, compared to its average volume of 751,934. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $79.54 and a two-hundred day moving average price of $87.44. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 7.22 and a beta of 1.50. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $5.10 EPS for the quarter, beating analysts' consensus estimates of $4.93 by $0.17. The business had revenue of $3.75 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the company posted $4.23 EPS. The company's revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Thursday, June 12th. Jackson Financial's dividend payout ratio is currently 310.68%.

Insider Activity

In related news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the sale, the chief executive officer now directly owns 85,276 shares in the company, valued at $7,199,852.68. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig Donald Smith sold 20,607 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. The trade was a 15.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on JXN. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $90.00 to $100.00 and gave the company a "market perform" rating in a research note on Tuesday, May 13th. Barclays upped their price target on shares of 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 set a $91.00 target price on shares of Jackson Financial and gave the company an "equal weight" rating in a research note 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $94.80.

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.