Cresset Asset Management LLC Sells 704 Shares of Jackson Financial Inc. (NYSE:JXN)

Cresset Asset Management LLC trimmed its holdings in Jackson Financial Inc. (NYSE:JXN) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,934 shares of the company’s stock after selling 704 shares during the period. Cresset Asset Management LLC’s holdings in Jackson Financial were worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Empowered Funds LLC bought a new position in shares of Jackson Financial in the fourth quarter valued at approximately $26,000. Quarry LP purchased a new stake in shares of Jackson Financial in the fourth quarter worth $28,000. SBI Securities Co. Ltd. bought a new stake in shares of Jackson Financial during the 4th quarter valued at about $44,000. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 402 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Jackson Financial in the fourth quarter valued at approximately $79,000. Institutional investors own 89.96% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Scott Romine sold 7,000 shares of the company’s 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 owns 85,276 shares in the company, valued at approximately $7,199,852.68. This represents 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. Also, CEO Craig Donald Smith sold 20,607 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $69.52, for a total value of $1,432,598.64. Following the completion of the transaction, the chief executive officer now directly owns 116,423 shares in the company, valued at $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. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on JXN. Morgan Stanley cut their target price on shares of 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. Keefe, Bruyette & Woods decreased their target price on shares of Jackson Financial from $105.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays upped their price target on shares of Jackson Financial from $106.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned 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 target price of $91.80.

Jackson Financial Stock Down 0.6 %

Shares of NYSE JXN opened at $84.37 on Friday. 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 $64.70 and a 12 month high of $115.22. The firm has a fifty day simple moving average of $79.39 and a two-hundred day simple moving average of $89.29. The firm has a market capitalization of $6.13 billion, a PE ratio of 7.37 and a beta of 1.50.

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

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Thursday, June 12th. 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.