RWC Asset Management LLP Trims Holdings in Jackson Financial Inc. (NYSE:JXN)

RWC Asset Management LLP decreased its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 16.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,986 shares of the company’s stock after selling 774 shares during the period. RWC Asset Management LLP’s holdings in Jackson Financial were worth $347,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in JXN. Colonial River Investments LLC lifted its stake in Jackson Financial by 1.2% in the 4th quarter. Colonial River Investments LLC now owns 18,075 shares of the company’s stock worth $1,574,000 after purchasing an additional 220 shares in the last quarter. Forvis Mazars Wealth Advisors LLC bought a new stake in Jackson Financial during the fourth quarter valued at $203,000. Handelsbanken Fonder AB boosted its stake in Jackson Financial by 69.8% during the fourth quarter. Handelsbanken Fonder AB now owns 21,900 shares of the company’s stock valued at $1,907,000 after buying an additional 9,000 shares during the period. CIBC Asset Management Inc grew its position in Jackson Financial by 3.3% during the fourth quarter. CIBC Asset Management Inc now owns 7,431 shares of the company’s stock worth $647,000 after buying an additional 234 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Jackson Financial by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 417,984 shares of the company’s stock worth $36,398,000 after acquiring an additional 10,880 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore ISI lowered Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays boosted 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $92.80.

Jackson Financial Stock Down 4.4 %

Shares of JXN opened at $81.63 on Monday. The firm has a market cap of $6.03 billion, a P/E ratio of 7.13 and a beta of 1.47. Jackson Financial Inc. has a 1 year low of $48.00 and a 1 year high of $115.22. The stock has a 50 day simple moving average of $90.93 and a two-hundred day simple moving average of $92.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. On average, analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s payout ratio is 24.45%.

Insider Activity at Jackson Financial

In other news, Director Gregory T. Durant purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the acquisition, the director now directly owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This represents a 4.91 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

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.