Graham Capital Management L.P. Has $1.09 Million Position in Jackson Financial Inc. (NYSE:JXN)

Graham Capital Management L.P. cut its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 25.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,559 shares of the company’s stock after selling 4,347 shares during the quarter. Graham Capital Management L.P.’s holdings in Jackson Financial were worth $1,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JXN. Norges Bank acquired a new position in Jackson Financial during the 4th quarter worth about $98,767,000. First Trust Advisors LP lifted its holdings in Jackson Financial by 13.4% during the 4th quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock worth $360,036,000 after buying an additional 487,803 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Jackson Financial by 286.5% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock worth $49,367,000 after acquiring an additional 420,245 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Jackson Financial in the 4th quarter worth about $27,193,000. Finally, Victory Capital Management Inc. raised its position in shares of Jackson Financial by 196.4% in the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock worth $38,946,000 after acquiring an additional 296,367 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Performance

Shares of Jackson Financial stock opened at $89.28 on Wednesday. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 7.80 and a beta of 1.50. The business has a 50-day simple moving average of $79.38 and a 200 day simple moving average of $89.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, May 7th. The company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.93 by $0.17. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $4.23 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Thursday, June 12th. Jackson Financial’s payout ratio is 310.68%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JXN. Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $90.00 to $100.00 and gave the stock a “market perform” rating in a research report on Tuesday. Morgan Stanley lowered their price objective on Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Finally, Barclays lifted their price objective on Jackson Financial from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.80.

Insider Activity at Jackson Financial

In other Jackson Financial news, CEO Craig Donald Smith sold 20,607 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was 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 of the company’s stock, valued at approximately $8,093,726.96. The trade was a 15.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the sale, the chief executive officer now directly owns 85,276 shares of the company’s stock, valued at $7,199,852.68. This represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

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.