Shell Asset Management Co. Sells 229 Shares of Jackson Financial Inc. (NYSE:JXN)

Shell Asset Management Co. trimmed its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,516 shares of the company’s stock after selling 229 shares during the quarter. Shell Asset Management Co.’s holdings in Jackson Financial were worth $431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JXN. GAMMA Investing LLC lifted its position in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Jackson Financial by 18.1% during the first quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock worth $101,000 after purchasing an additional 235 shares in the last quarter. Asset Allocation Strategies LLC grew its holdings in shares of Jackson Financial by 1.4% during the fourth quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock worth $886,000 after buying an additional 242 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Jackson Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock valued at $84,000 after acquiring an additional 250 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in Jackson Financial by 10.2% during the fourth quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock worth $162,000 after buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

JXN has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut shares of Jackson Financial from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $75.00 to $80.00 in a research report on Tuesday, May 14th. Jefferies Financial Group raised their target price on Jackson Financial from $62.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Morgan Stanley lifted their target price on Jackson Financial from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI reduced their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $70.80.

Jackson Financial Trading Up 3.0 %

NYSE JXN opened at $87.84 on Friday. The company has a market cap of $6.70 billion, a P/E ratio of 2.32 and a beta of 1.51. The company has a 50-day moving average of $76.32 and a 200-day moving average of $65.79. Jackson Financial Inc. has a 12 month low of $31.40 and a 12 month high of $88.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, May 8th. The company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.67 billion. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.15 earnings per share. As a group, equities analysts predict that Jackson Financial Inc. will post 17.33 earnings per share for the current year.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders 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 dividend on an annualized basis and a yield of 3.19%. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Insiders Place Their Bets

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