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

Bank of New York Mellon Corp increased its holdings in Jackson Financial Inc. (NYSE:JXN) by 2.8% in the first quarter, HoldingsChannel.com reports. The firm owned 910,853 shares of the company’s stock after buying an additional 24,747 shares during the quarter. Bank of New York Mellon Corp’s holdings in Jackson Financial were worth $96,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JXN. Dimensional Fund Advisors LP lifted its stake in Jackson Financial by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,041,610 shares of the company’s stock valued at $431,045,000 after buying an additional 46,661 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Jackson Financial by 16.5% during the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after buying an additional 220,095 shares during the last quarter. Norges Bank purchased a new stake in shares of Jackson Financial during the fourth quarter worth $129,878,000. Morgan Stanley raised its position in Jackson Financial by 6.0% in the 4th quarter. Morgan Stanley now owns 1,196,405 shares of the company’s stock valued at $127,597,000 after purchasing an additional 67,796 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Jackson Financial by 14.8% in the fourth quarter. Federated Hermes Inc. now owns 981,046 shares of the company’s stock valued at $104,629,000 after acquiring an additional 126,611 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Weiss Ratings cut shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods lifted their target price on Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Barclays upped their price objective on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.40.

Jackson Financial Trading Down 2.0%

Shares of JXN opened at $123.13 on Tuesday. Jackson Financial Inc. has a 1-year low of $82.65 and a 1-year high of $126.69. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of -20.15 and a beta of 1.32. The firm has a 50 day simple moving average of $109.41 and a 200-day simple moving average of $110.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $3.60 annualized dividend and a yield of 2.9%. Jackson Financial’s payout ratio is presently -58.92%.

Jackson Financial Company 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.