Concorde Asset Management LLC Sells 500 Shares of Jackson Financial Inc. (NYSE:JXN)

Concorde Asset Management LLC trimmed its position in shares of Jackson Financial Inc. (NYSE:JXN) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,900 shares of the company’s stock after selling 500 shares during the period. Concorde Asset Management LLC’s holdings in Jackson Financial were worth $253,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Jackson Financial by 7.1% during the 4th quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $155,000 after purchasing an additional 118 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Jackson Financial by 0.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,707 shares of the company’s stock worth $4,416,000 after buying an additional 168 shares in the last quarter. Caprock Group LLC lifted its position in shares of Jackson Financial by 4.3% in the fourth quarter. Caprock Group LLC now owns 4,218 shares of the company’s stock worth $367,000 after buying an additional 173 shares in the last quarter. IFP Advisors Inc boosted its stake in Jackson Financial by 7.2% during the fourth quarter. IFP Advisors Inc now owns 2,692 shares of the company’s stock valued at $234,000 after buying an additional 180 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in Jackson Financial by 1.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 18,048 shares of the company’s stock valued at $1,572,000 after buying an additional 193 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig Donald Smith sold 20,607 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 116,423 shares in the company, valued at approximately $8,093,726.96. The trade was a 15.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a report on Wednesday. Barclays upped their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley dropped their price objective on shares of Jackson Financial from $92.00 to $86.00 and set an “equal weight” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $93.80.

Jackson Financial Stock Performance

NYSE JXN opened at $71.27 on Friday. The company has a market cap of $5.18 billion, a P/E ratio of 6.22 and a beta of 1.49. The business’s 50 day moving average price is $85.07 and its 200-day moving average price is $92.01. Jackson Financial Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $115.22. 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 (NYSE:JXN) last announced its 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 firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. Sell-side analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 11th were given a $0.80 dividend. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Tuesday, March 11th. Jackson Financial’s dividend payout ratio is 27.95%.

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.