Jackson Financial Inc. $JXN Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Jackson Financial Inc. (NYSE:JXN) by 31.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 886,106 shares of the company’s stock after acquiring an additional 213,131 shares during the quarter. Bank of New York Mellon Corp’s holdings in Jackson Financial were worth $94,503,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in JXN. AXQ Capital LP boosted its stake in shares of Jackson Financial by 77.0% in the fourth quarter. AXQ Capital LP now owns 7,396 shares of the company’s stock valued at $789,000 after buying an additional 3,218 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of Jackson Financial in the fourth quarter valued at approximately $250,000. BNP Paribas Financial Markets boosted its stake in shares of Jackson Financial by 3.2% in the fourth quarter. BNP Paribas Financial Markets now owns 50,825 shares of the company’s stock valued at $5,420,000 after buying an additional 1,599 shares in the last quarter. Norges Bank purchased a new stake in shares of Jackson Financial in the fourth quarter valued at approximately $129,878,000. Finally, Rothschild Investment LLC boosted its stake in shares of Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Price Performance

JXN stock opened at $107.33 on Tuesday. Jackson Financial Inc. has a 52-week low of $80.25 and a 52-week high of $123.61. The stock’s fifty day simple moving average is $107.96 and its 200-day simple moving average is $108.52. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of -17.57 and a beta of 1.32.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.4%. Jackson Financial’s dividend payout ratio (DPR) is currently -58.92%.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of research analyst reports. Weiss Ratings downgraded Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Barclays decreased their target price on Jackson Financial from $138.00 to $136.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $115.80.

Jackson Financial Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.