Easterly Investment Partners LLC Has $11.26 Million Stock Position in Jackson Financial Inc. (NYSE:JXN)

Easterly Investment Partners LLC cut its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,285 shares of the company’s stock after selling 7,021 shares during the period. Easterly Investment Partners LLC owned approximately 0.18% of Jackson Financial worth $11,258,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in JXN. State Street Corp lifted its holdings in shares of Jackson Financial by 4.9% in the third quarter. State Street Corp now owns 3,266,981 shares of the company’s stock valued at $298,047,000 after purchasing an additional 153,326 shares in the last quarter. Geode Capital Management LLC lifted its stake in Jackson Financial by 7.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,086,155 shares of the company’s stock valued at $194,187,000 after acquiring an additional 144,530 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Jackson Financial by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company’s stock worth $93,980,000 after acquiring an additional 28,337 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Jackson Financial by 33.9% in the 4th quarter. JPMorgan Chase & Co. now owns 650,544 shares of the company’s stock worth $56,649,000 after acquiring an additional 164,800 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Jackson Financial by 196.4% during the fourth quarter. Victory Capital Management Inc. now owns 447,245 shares of the company’s stock valued at $38,946,000 after purchasing an additional 296,367 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Down 1.2 %

JXN opened at $87.63 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 7.65 and a beta of 1.48. The company’s 50-day moving average price is $89.35 and its two-hundred day moving average price is $92.77. Jackson Financial Inc. has a twelve month low of $62.81 and a twelve month high of $115.22.

Jackson Financial (NYSE:JXN) last issued its earnings results 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 business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. As a group, equities analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.65%. Jackson Financial’s dividend payout ratio is currently 27.95%.

Insider Buying and Selling at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the firm’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 value 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. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on JXN shares. Barclays upped their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, February 28th. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $97.40.

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.