Allspring Global Investments Holdings LLC Sells 62,734 Shares of Jackson Financial Inc. (NYSE:JXN)

Allspring Global Investments Holdings LLC cut its holdings in Jackson Financial Inc. (NYSE:JXN) by 36.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,830 shares of the company’s stock after selling 62,734 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.15% of Jackson Financial worth $9,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JXN. Empowered Funds LLC bought a new position in Jackson Financial in the 4th quarter valued at approximately $26,000. World Investment Advisors LLC bought a new stake in shares of Jackson Financial in the third quarter worth $31,000. Blue Trust Inc. increased its position in Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after acquiring an additional 260 shares during the last quarter. R Squared Ltd bought a new position in Jackson Financial in the fourth quarter valued at about $126,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Jackson Financial in the third quarter worth about $141,000. 89.96% of the stock is owned by institutional investors.

Jackson Financial Trading Up 1.3 %

Shares of Jackson Financial stock opened at $97.91 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of -7.75 and a beta of 1.47. Jackson Financial Inc. has a twelve month low of $48.00 and a twelve month high of $115.22. The business has a 50-day moving average price of $91.04 and a 200-day moving average price of $92.46.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Barclays cut their price objective on Jackson Financial from $117.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.40.

Insider Activity at Jackson Financial

In related news, Director Gregory T. Durant purchased 1,500 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 32,023 shares in the company, valued at approximately $2,891,036.44. This trade represents a 4.91 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by 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.