Carson Advisory Inc. Has $2.20 Million Stake in Jackson Financial Inc. (NYSE:JXN)

Carson Advisory Inc. lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,880 shares of the company’s stock after selling 1,498 shares during the quarter. Jackson Financial comprises 1.7% of Carson Advisory Inc.’s portfolio, making the stock its 10th largest holding. Carson Advisory Inc.’s holdings in Jackson Financial were worth $2,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its position in shares of Jackson Financial by 6.2% in the third quarter. Commonwealth Equity Services LLC now owns 162,614 shares of the company’s stock valued at $6,215,000 after acquiring an additional 9,476 shares during the period. Xponance Inc. bought a new stake in shares of Jackson Financial in the third quarter valued at approximately $280,000. Maryland State Retirement & Pension System bought a new stake in shares of Jackson Financial in the third quarter valued at approximately $1,026,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Jackson Financial by 3.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 53,402 shares of the company’s stock valued at $2,041,000 after acquiring an additional 1,917 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Jackson Financial by 16.3% in the third quarter. Stratos Wealth Partners LTD. now owns 18,088 shares of the company’s stock valued at $691,000 after purchasing an additional 2,530 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on JXN shares. Evercore ISI upped their target price on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley upped their target price on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group upped their target price on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.80.

Jackson Financial Price Performance

Shares of JXN traded up $0.32 during trading hours on Thursday, hitting $69.42. The stock had a trading volume of 532,099 shares, compared to its average volume of 805,941. The company’s fifty day moving average is $62.97 and its two-hundred day moving average is $52.83. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. Jackson Financial Inc. has a 52 week low of $26.70 and a 52 week high of $70.97. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 7.04 and a beta of 1.54.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $5.66 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. On average, analysts anticipate that Jackson Financial Inc. will post 15.95 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.03%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is currently 28.54%.

Insiders Place Their Bets

In related news, Director Derek G. Kirkland acquired 3,500 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were purchased at an average price of $55.67 per share, with a total value of $194,845.00. Following the acquisition, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 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.