Commonwealth Equity Services LLC Sells 12,063 Shares of Jackson Financial Inc. $JXN

Commonwealth Equity Services LLC reduced its holdings in Jackson Financial Inc. (NYSE:JXN) by 16.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,575 shares of the company’s stock after selling 12,063 shares during the period. Commonwealth Equity Services LLC’s holdings in Jackson Financial were worth $7,834,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Signature Equity Partners LLC bought a new position in shares of Jackson Financial in the 1st quarter valued at about $38,000. Root Financial Partners LLC bought a new stake in Jackson Financial during the third quarter worth approximately $61,000. Allworth Financial LP increased its stake in Jackson Financial by 22.7% during the second quarter. Allworth Financial LP now owns 573 shares of the company’s stock worth $59,000 after acquiring an additional 106 shares during the last quarter. Continuum Advisory LLC purchased a new stake in Jackson Financial during the second quarter valued at approximately $59,000. Finally, Western Wealth Management LLC purchased a new stake in Jackson Financial during the first quarter valued at approximately $78,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JXN. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $140.00 price objective on shares of Jackson Financial in a research note on Friday, September 18th. Weiss Ratings restated a “hold (c)” rating on shares of Jackson Financial in a report on Monday, November 2nd. Barclays raised their price target on Jackson Financial from $151.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Wall Street Zen lowered shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Evercore set a $135.00 price objective on shares of Jackson Financial in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average target price of $134.80.

Jackson Financial Trading Up 0.2%

Shares of NYSE JXN opened at $138.94 on Friday. Jackson Financial Inc. has a fifty-two week low of $89.67 and a fifty-two week high of $150.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 5.06 and a beta of 1.34. The business’s 50 day moving average price is $133.73 and its 200-day moving average price is $119.23.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $7.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.24 by $0.31. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Jackson Financial had a return on equity of 20.46% and a net margin of 13.41%.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a $0.90 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.6%. Jackson Financial’s dividend payout ratio is presently 29.61%.

Jackson Financial Company Profile

Jackson Financial Inc. is a U.S. financial services company focused on retirement planning. Through its subsidiaries, including Jackson National Life Insurance Company, it offers annuity products designed to help individuals build and manage retirement income. Its offerings include variable, fixed, fixed-indexed and registered index-linked annuities. The company serves individuals and financial professionals across the United States, distributing its products through a network of independent financial advisers and other financial services firms.