Wedge Capital Management L L P NC Cuts Stake in Jackson Financial Inc. (NYSE:JXN)

Wedge Capital Management L L P NC cut its position in Jackson Financial Inc. (NYSE:JXN) by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 403,871 shares of the company’s stock after selling 43,300 shares during the period. Wedge Capital Management L L P NC’s holdings in Jackson Financial were worth $35,169,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in JXN. Massachusetts Financial Services Co. MA raised its stake in shares of Jackson Financial by 6.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 127,946 shares of the company’s stock worth $9,501,000 after purchasing an additional 8,142 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Jackson Financial by 3.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 10,084 shares of the company’s stock valued at $749,000 after purchasing an additional 341 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Jackson Financial by 8.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,743 shares of the company’s stock valued at $569,000 after buying an additional 588 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Jackson Financial by 31.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,386 shares of the company’s stock worth $622,000 after buying an additional 2,011 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Jackson Financial in the second quarter worth $493,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on JXN shares. Barclays reduced their price target on shares of Jackson Financial from $117.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and increased their price target for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have assigned 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 target price of $92.40.

Insider Activity at Jackson Financial

In other news, Director Gregory T. Durant acquired 1,500 shares of Jackson Financial stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by insiders.

Jackson Financial Trading Up 0.1 %

Shares of JXN stock opened at $92.50 on Friday. The stock’s 50-day moving average price is $94.19 and its 200-day moving average price is $90.44. Jackson Financial Inc. has a 12-month low of $48.00 and a 12-month high of $115.22. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of -7.32 and a beta of 1.46. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share for the quarter, missing analysts’ consensus estimates of $4.67 by ($0.07). The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business posted $3.80 earnings per share. Equities research analysts predict that Jackson Financial Inc. will post 18.77 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Thursday, December 5th. Jackson Financial’s dividend payout ratio is currently -22.15%.

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.