Jackson Financial Inc. (NYSE:JXN) Holdings Decreased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 32.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,326 shares of the company's stock after selling 17,076 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Jackson Financial were worth $1,860,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in JXN. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Jackson Financial during the 3rd quarter worth about $871,000. Vanguard Group Inc. increased its stake in Jackson Financial by 16.1% in the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company's stock valued at $417,868,000 after purchasing an additional 1,518,547 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Jackson Financial by 19.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 78,919 shares of the company's stock valued at $3,016,000 after purchasing an additional 13,121 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in Jackson Financial during the third quarter worth approximately $7,644,000. Finally, New York State Common Retirement Fund lifted its position in shares of Jackson Financial by 18.4% during the 3rd quarter. New York State Common Retirement Fund now owns 90,173 shares of the company's stock worth $3,446,000 after buying an additional 14,012 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Jackson Financial news, Director Derek G. Kirkland acquired 3,500 shares of the business's stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares of the company's stock, valued at approximately $2,100,206.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by insiders.

Jackson Financial Stock Performance

Shares of NYSE JXN traded down $0.20 during midday trading on Thursday, reaching $65.37. 585,829 shares of the company were exchanged, compared to its average volume of 832,520. The stock has a fifty day simple moving average of $58.53 and a 200 day simple moving average of $49.90. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.06 billion, a P/E ratio of 6.66 and a beta of 1.57. Jackson Financial Inc. has a 1 year low of $26.70 and a 1 year high of $68.97.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($1.00). The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business earned $5.66 EPS. The company's revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Jackson Financial Inc. will post 15.59 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were paid a $0.70 dividend. This is a boost from Jackson Financial's previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 4.28%. The ex-dividend date was Monday, March 11th. Jackson Financial's payout ratio is currently 28.54%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on JXN shares. Keefe, Bruyette & Woods lifted their price target on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday. The Goldman Sachs Group boosted their target price on Jackson Financial from $39.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, January 9th. Morgan Stanley raised their price target on Jackson Financial from $49.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Friday, March 1st. Jefferies Financial Group reiterated a "hold" rating and issued a $55.00 price objective on shares of Jackson Financial in a research note on Tuesday, January 2nd. Finally, Evercore ISI increased their price objective on Jackson Financial from $55.00 to $62.00 and gave the company an "in-line" rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $58.20.

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.