WBI Investments LLC Sells 500 Shares of Jackson Financial Inc. (NYSE:JXN)

WBI Investments LLC cut its stake in Jackson Financial Inc. (NYSE:JXN) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,796 shares of the company’s stock after selling 500 shares during the period. WBI Investments LLC’s holdings in Jackson Financial were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of Jackson Financial during the fourth quarter worth approximately $2,270,000. FORA Capital LLC raised its stake in shares of Jackson Financial by 399.7% during the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after buying an additional 22,312 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Jackson Financial during the fourth quarter worth approximately $1,680,000. Teachers Retirement System of The State of Kentucky acquired a new position in Jackson Financial during the third quarter valued at approximately $871,000. Finally, Goldman Sachs Group Inc. grew its holdings in Jackson Financial by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after purchasing an additional 111,875 shares during the period. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Up 2.3 %

Shares of Jackson Financial stock traded up $1.76 on Thursday, hitting $78.64. The company had a trading volume of 334,162 shares, compared to its average volume of 748,150. The firm has a market capitalization of $6.00 billion, a P/E ratio of 2.03 and a beta of 1.51. Jackson Financial Inc. has a twelve month low of $31.40 and a twelve month high of $81.52. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a 50-day moving average of $74.33 and a 200-day moving average of $63.21.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.15 EPS. Research analysts predict that Jackson Financial Inc. will post 16.98 earnings per share for the current year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.56%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s dividend payout ratio (DPR) is currently 7.40%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JXN shares. Morgan Stanley boosted their price objective on shares of Jackson Financial from $82.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday. Keefe, Bruyette & Woods cut shares of Jackson Financial from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $75.00 to $80.00 in a report on Tuesday, May 14th. Evercore ISI decreased their price objective on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Finally, Jefferies Financial Group boosted their price objective on shares of Jackson Financial from $62.00 to $70.00 and gave the company a “hold” rating in a report on Friday, June 28th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.80.

Insiders Place Their Bets

In related news, CFO Don W. Cummings acquired 1,445 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were bought at an average cost of $72.70 per share, with a total value of $105,051.50. Following the completion of the transaction, the chief financial officer now directly owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Devkumar Dilip Ganguly sold 13,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.67, for a total value of $983,710.00. Following the completion of the transaction, the chief operating officer now owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Don W. Cummings purchased 1,445 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was acquired at an average price of $72.70 per share, with a total value of $105,051.50. Following the completion of the transaction, the chief financial officer now owns 45,711 shares in the company, valued at approximately $3,323,189.70. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

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.