Vestcor Inc Sells 4,107 Shares of Jackson Financial Inc. (NYSE:JXN)

Vestcor Inc trimmed its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,603 shares of the company’s stock after selling 4,107 shares during the quarter. Vestcor Inc’s holdings in Jackson Financial were worth $1,881,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc increased its position in shares of Jackson Financial by 35.7% during the third quarter. Atria Investments Inc now owns 5,446 shares of the company’s stock valued at $497,000 after buying an additional 1,433 shares during the period. Crossmark Global Holdings Inc. grew its stake in Jackson Financial by 11.2% during the third quarter. Crossmark Global Holdings Inc. now owns 5,404 shares of the company’s stock valued at $493,000 after acquiring an additional 543 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Jackson Financial by 13.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,489 shares of the company’s stock worth $1,231,000 after acquiring an additional 1,564 shares during the period. Plato Investment Management Ltd lifted its stake in Jackson Financial by 10.9% in the 3rd quarter. Plato Investment Management Ltd now owns 2,845 shares of the company’s stock worth $259,000 after purchasing an additional 279 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Jackson Financial by 36.7% in the 3rd quarter. KBC Group NV now owns 2,309 shares of the company’s stock valued at $211,000 after purchasing an additional 620 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JXN shares. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Friday, February 28th. Barclays raised their price target on Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.40.

Jackson Financial Trading Up 4.4 %

Shares of JXN opened at $82.84 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. Jackson Financial Inc. has a fifty-two week low of $60.99 and a fifty-two week high of $115.22. The firm has a 50 day moving average price of $89.81 and a 200-day moving average price of $92.76. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 7.24 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. As a group, equities research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.86%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, March 11th. Jackson Financial’s dividend payout ratio (DPR) is presently 27.95%.

Insiders Place Their Bets

In other news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the transaction, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

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.