B. Riley Wealth Advisors Inc. Cuts Stock Position in Jackson Financial Inc. (NYSE:JXN)

B. Riley Wealth Advisors Inc. trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 21.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,556 shares of the company’s stock after selling 4,906 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Jackson Financial were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Jackson Financial by 9,363.9% in the third quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock valued at $85,942,000 after acquiring an additional 932,085 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after purchasing an additional 724,148 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Jackson Financial during the 3rd quarter worth approximately $40,795,000. LSV Asset Management raised its stake in shares of Jackson Financial by 2,459.7% during the 2nd quarter. LSV Asset Management now owns 439,339 shares of the company’s stock worth $32,625,000 after buying an additional 422,175 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Jackson Financial by 40.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock valued at $95,874,000 after buying an additional 300,520 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Up 1.0 %

JXN opened at $92.43 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $6.83 billion, a price-to-earnings ratio of -7.31 and a beta of 1.42. Jackson Financial Inc. has a one year low of $47.49 and a one year high of $115.22. The business’s fifty day moving average is $100.13 and its two-hundred day moving average is $87.93.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $4.60 EPS for the quarter, missing the consensus estimate of $4.67 by ($0.07). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company earned $3.80 EPS. Analysts anticipate that Jackson Financial Inc. will post 18.8 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Jackson Financial’s dividend payout ratio is presently -22.15%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on JXN shares. Morgan Stanley upped their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and increased their price target for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Finally, Barclays raised their price objective on shares of Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.00.

Insider Activity

In related news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the transaction, the executive vice president now owns 61,829 shares of the company’s stock, valued at approximately $5,645,605.99. The trade was a 8.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory T. Durant purchased 1,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $90.28 per share, for a total transaction 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 disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

Jackson Financial 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.