Mitsubishi UFJ Trust & Banking Corp Sells 3,381 Shares of Jackson Financial Inc. (NYSE:JXN)

Mitsubishi UFJ Trust & Banking Corp cut its stake in Jackson Financial Inc. (NYSE:JXN) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 99,973 shares of the company’s stock after selling 3,381 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Jackson Financial were worth $8,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Jackson Financial in the fourth quarter worth about $27,193,000. Victory Capital Management Inc. raised its position in shares of Jackson Financial by 196.4% in the 4th quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock worth $38,946,000 after acquiring an additional 296,367 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Jackson Financial by 6,642.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 226,418 shares of the company’s stock valued at $19,716,000 after purchasing an additional 223,060 shares during the period. Four Tree Island Advisory LLC bought a new stake in shares of Jackson Financial during the fourth quarter valued at approximately $19,298,000. Finally, Ibex Wealth Advisors bought a new position in Jackson Financial in the fourth quarter worth $17,055,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods upped their price target 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 research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and an average target price of $97.40.

Insider Activity

In related news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were 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. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Trading Down 3.0 %

Shares of NYSE JXN opened at $83.15 on Friday. The firm’s 50 day moving average price is $89.03 and its 200-day moving average price is $92.84. Jackson Financial Inc. has a 52-week low of $62.81 and a 52-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. The company has a market cap of $6.04 billion, a PE ratio of 7.26 and a beta of 1.48.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data 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 research analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently announced 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 positive change from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.85%. Jackson Financial’s payout ratio is 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.