Comerica Bank Lowers Position in Jackson Financial Inc. (NYSE:JXN)

Comerica Bank decreased its position in shares of Jackson Financial Inc. (NYSE:JXN) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 54,621 shares of the company’s stock after selling 1,498 shares during the period. Comerica Bank owned about 0.07% of Jackson Financial worth $4,756,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Jackson Financial in the fourth quarter worth $26,000. Quarry LP bought a new stake in shares of Jackson Financial during the 4th quarter valued at $28,000. World Investment Advisors LLC purchased a new stake in shares of Jackson Financial in the 3rd quarter worth about $31,000. SBI Securities Co. Ltd. bought a new position in shares of Jackson Financial in the 4th quarter worth about $44,000. Finally, Blue Trust Inc. lifted its position in Jackson Financial by 114.5% during the 4th quarter. Blue Trust Inc. now owns 798 shares of the company’s stock valued at $69,000 after acquiring an additional 426 shares during the period. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays decreased their target price on shares of Jackson Financial from $118.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. 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 note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods cut their target price on Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $91.40.

Insider Buying and Selling

In other Jackson Financial news, 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 transaction 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. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Craig Donald Smith sold 20,607 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the transaction, the chief executive officer now owns 116,423 shares in the company, valued at $8,093,726.96. This trade represents a 15.04 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Jackson Financial Price Performance

JXN opened at $81.23 on Tuesday. The company’s 50-day simple moving average is $79.77 and its two-hundred day simple moving average is $89.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $5.90 billion, a P/E ratio of 7.09 and a beta of 1.50. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data 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 analysts’ expectations of $1.81 billion. As a group, analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were given a $0.80 dividend. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.94%. Jackson Financial’s dividend payout ratio is presently 27.95%.

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.