RFG Advisory LLC Sells 7,633 Shares of Jackson Financial Inc. (NYSE:JXN)

RFG Advisory LLC reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 24.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,231 shares of the company’s stock after selling 7,633 shares during the quarter. RFG Advisory LLC’s holdings in Jackson Financial were worth $1,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Jackson Financial by 47.0% during the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after buying an additional 154 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Jackson Financial in the fourth quarter valued at about $36,000. Headlands Technologies LLC bought a new position in Jackson Financial in the fourth quarter valued at about $38,000. Kapitalo Investimentos Ltda bought a new position in Jackson Financial in the fourth quarter valued at about $57,000. Finally, Hexagon Capital Partners LLC raised its position in Jackson Financial by 113.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,297 shares of the company’s stock valued at $66,000 after purchasing an additional 688 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Trading Up 0.0 %

Shares of JXN stock opened at $72.59 on Friday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 1.92 and a beta of 1.54. The stock has a 50-day moving average of $72.51 and a 200-day moving average of $61.02. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 1-year low of $28.57 and a 1-year high of $81.52.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.56. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.67 billion. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.15 EPS. On average, equities research analysts forecast that Jackson Financial Inc. will post 16.98 earnings per share for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $2.80 annualized dividend and a yield of 3.86%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Insider Buying and Selling

In other Jackson Financial news, CFO Don W. Cummings bought 1,445 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $72.70 per share, with a total value of $105,051.50. Following the completion of the purchase, the chief financial officer now directly owns 45,711 shares of the company’s stock, valued at approximately $3,323,189.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.67, for a total value of $983,710.00. Following the completion of the sale, the chief operating officer now owns 93,405 shares of the company’s stock, valued at $7,067,956.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Don W. Cummings acquired 1,445 shares of Jackson Financial stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $72.70 per share, with a total value of $105,051.50. Following the purchase, the chief financial officer now directly owns 45,711 shares of the company’s stock, valued at approximately $3,323,189.70. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Evercore ISI increased their target price on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods downgraded Jackson Financial from an “outperform” rating to a “market perform” rating and increased their target price for the company from $75.00 to $80.00 in a research report on Tuesday, May 14th. Finally, Morgan Stanley increased their target price on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $62.80.

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.