Mitsubishi UFJ Trust & Banking Corp Lowers Position in Jackson Financial Inc. (NYSE:JXN)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,973 shares of the company’s stock after selling 3,381 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.14% of Jackson Financial worth $8,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JXN. Empowered Funds LLC purchased a new position in Jackson Financial in the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Jackson Financial during the 4th quarter worth $44,000. Blue Trust Inc. grew its position in Jackson Financial by 108.1% in the fourth quarter. Blue Trust Inc. now owns 774 shares of the company’s stock worth $71,000 after acquiring an additional 402 shares in the last quarter. R Squared Ltd purchased a new position in Jackson Financial in the fourth quarter worth $126,000. Finally, GAMMA Investing LLC increased its stake in Jackson Financial by 7.1% in the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $155,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Down 3.0 %

Shares of NYSE:JXN opened at $83.15 on Friday. The stock has a market capitalization of $6.04 billion, a P/E ratio of 7.26 and a beta of 1.48. The stock’s 50-day moving average price is $89.03 and its 200-day moving average price is $92.84. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a 12-month low of $62.81 and a 12-month high of $115.22.

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

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.85%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, March 11th. Jackson Financial’s payout ratio is presently 27.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays upped their price objective on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Friday, February 28th. One 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’s stock. According to data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus target price of $97.40.

Insider Activity at Jackson Financial

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction dated 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. The trade was a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

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.