Wedge Capital Management L L P NC Has $35.17 Million Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Wedge Capital Management L L P NC reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 403,871 shares of the company’s stock after selling 43,300 shares during the quarter. Wedge Capital Management L L P NC owned 0.55% of Jackson Financial worth $35,169,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd lifted its stake in shares of Jackson Financial by 300.0% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company’s stock valued at $1,460,000 after acquiring an additional 12,000 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in Jackson Financial in the third quarter valued at approximately $897,000. Assetmark Inc. boosted its stake in Jackson Financial by 7.9% during the third quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock worth $8,360,000 after acquiring an additional 6,724 shares in the last quarter. World Investment Advisors LLC bought a new stake in Jackson Financial in the third quarter valued at $31,000. Finally, Versor Investments LP raised its holdings in shares of Jackson Financial by 145.1% during the third quarter. Versor Investments LP now owns 17,710 shares of the company’s stock valued at $1,616,000 after purchasing an additional 10,483 shares during the period. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Up 0.1 %

JXN opened at $92.50 on Friday. The company’s 50-day moving average price is $94.19 and its two-hundred day moving average price is $90.44. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a twelve month low of $48.00 and a twelve month high of $115.22. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of -7.32 and a beta of 1.46.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, November 6th. The company reported $4.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.67 by ($0.07). The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm posted $3.80 EPS. As a group, equities analysts expect that Jackson Financial Inc. will post 18.77 earnings per share for the current year.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.03%. Jackson Financial’s payout ratio is -22.15%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JXN. Barclays reduced their price target on shares of Jackson Financial from $117.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Jackson Financial has an average rating of “Hold” and an average target price of $92.40.

Insider Buying and Selling at Jackson Financial

In other news, Director Gregory T. Durant bought 1,500 shares of Jackson Financial stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of $90.28 per share, with a total value of $135,420.00. Following the completion of the purchase, the director now directly owns 32,023 shares in the company, valued at $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

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.