Franklin Resources Inc. Lowers Position in Jackson Financial Inc. (NYSE:JXN)

Franklin Resources Inc. trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,665 shares of the company’s stock after selling 296 shares during the period. Franklin Resources Inc. owned 0.13% of Jackson Financial worth $9,720,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in JXN. Dimensional Fund Advisors LP grew its position in shares of Jackson Financial by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock worth $332,035,000 after buying an additional 163,598 shares during the period. State Street Corp grew its holdings in Jackson Financial by 4.9% in the third quarter. State Street Corp now owns 3,266,981 shares of the company’s stock worth $298,047,000 after purchasing an additional 153,326 shares during the period. Geode Capital Management LLC increased its stake in shares of Jackson Financial by 7.4% during the third quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock valued at $194,187,000 after purchasing an additional 144,530 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Jackson Financial by 6.5% during the second quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after purchasing an additional 98,792 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after purchasing an additional 724,148 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on JXN. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Barclays lifted their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average price target of $84.00.

Insider Transactions at Jackson Financial

In other Jackson Financial news, Director Gregory T. Durant acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $90.28 per share, with a total value of $135,420.00. Following the completion of the acquisition, the director now owns 32,023 shares in the company, valued at $2,891,036.44. This represents a 4.91 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Jackson Financial Stock Up 2.3 %

JXN stock opened at $88.28 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a 1-year low of $47.49 and a 1-year high of $115.22. The stock has a market capitalization of $6.52 billion, a P/E ratio of -6.98 and a beta of 1.42. The business has a fifty day moving average price of $99.17 and a 200-day moving average price of $88.31.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $3.80 earnings per share. Equities analysts forecast that Jackson Financial Inc. will post 18.8 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.17%. Jackson Financial’s payout ratio is -22.15%.

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.