Bank of New York Mellon Corp Sells 70,964 Shares of Jackson Financial Inc. (NYSE:JXN)

Bank of New York Mellon Corp trimmed its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 696,083 shares of the company’s stock after selling 70,964 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.96% of Jackson Financial worth $58,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Jackson Financial in the 4th quarter worth approximately $98,767,000. Assenagon Asset Management S.A. lifted its stake in shares of Jackson Financial by 385.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company’s stock valued at $73,288,000 after purchasing an additional 694,518 shares during the period. First Trust Advisors LP raised its stake in Jackson Financial by 13.4% during the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock valued at $360,036,000 after buying an additional 487,803 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Jackson Financial by 286.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock valued at $49,367,000 after buying an additional 420,245 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Jackson Financial during the fourth quarter valued at $27,193,000. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Price Performance

NYSE:JXN opened at $87.14 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $6.23 billion, a P/E ratio of 84.61 and a beta of 1.47. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22. The business’s 50-day moving average is $84.92 and its 200 day moving average is $85.04.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.93 by $0.17. Jackson Financial had a return on equity of 15.46% and a net margin of 1.73%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business posted $4.23 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.20 annualized dividend and a dividend yield of 3.67%. Jackson Financial’s payout ratio is 310.68%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays boosted their price target on Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $100.00 to $102.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Morgan Stanley set a $91.00 price objective on Jackson Financial and gave the stock an “equal weight” rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $96.40.

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.