Petra Financial Advisors Inc. Sells 5,012 Shares of Jackson Financial Inc. (NYSE:JXN)

Petra Financial Advisors Inc. lessened its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 62.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,059 shares of the company's stock after selling 5,012 shares during the period. Petra Financial Advisors Inc.'s holdings in Jackson Financial were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of JXN. Advisor Resource Council acquired a new stake in Jackson Financial during the 1st quarter valued at $339,000. CWA Asset Management Group LLC raised its stake in Jackson Financial by 36.4% during the 1st quarter. CWA Asset Management Group LLC now owns 16,227 shares of the company's stock valued at $1,359,000 after purchasing an additional 4,329 shares during the period. Vicus Capital acquired a new stake in Jackson Financial during the 1st quarter valued at $224,000. Janney Montgomery Scott LLC raised its stake in Jackson Financial by 5.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 53,433 shares of the company's stock valued at $4,477,000 after purchasing an additional 2,726 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in Jackson Financial by 0.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 22,867 shares of the company's stock valued at $1,916,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Stock Up 0.3%

NYSE JXN traded up $0.28 during trading on Monday, hitting $84.94. 482,264 shares of the company traded hands, compared to its average volume of 755,371. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22. The business has a fifty day simple moving average of $81.35 and a 200 day simple moving average of $85.18. The company has a market capitalization of $6.07 billion, a P/E ratio of 82.47 and a beta of 1.47. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.43.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.93 by $0.17. Jackson Financial had a return on equity of 15.46% and a net margin of 1.73%. The company 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 firm earned $4.23 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a $0.80 dividend. The ex-dividend date is Thursday, June 12th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.77%. Jackson Financial's dividend payout ratio is currently 310.68%.

Insiders Place Their Bets

In other Jackson Financial news, CEO Craig Donald Smith sold 20,607 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the completion of the sale, the chief executive officer now directly owns 116,423 shares in the company, valued at $8,093,726.96. This represents a 15.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

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

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.