Mackenzie Financial Corp Sells 21,806 Shares of Jackson Financial Inc. (NYSE:JXN)

Mackenzie Financial Corp decreased its holdings in Jackson Financial Inc. (NYSE:JXN) by 71.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,926 shares of the company’s stock after selling 21,806 shares during the quarter. Mackenzie Financial Corp’s holdings in Jackson Financial were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of JXN. Quarry LP bought a new position in shares of Jackson Financial during the fourth quarter valued at $28,000. NBC Securities Inc. purchased a new position in shares of Jackson Financial during the 1st quarter valued at about $37,000. Versant Capital Management Inc lifted its holdings in Jackson Financial by 161.9% in the 1st quarter. Versant Capital Management Inc now owns 550 shares of the company’s stock worth $46,000 after purchasing an additional 340 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of Jackson Financial during the 1st quarter worth approximately $72,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Jackson Financial during the 4th quarter worth approximately $79,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 7.2%

Shares of NYSE JXN opened at $92.71 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $6.62 billion, a P/E ratio of -1,544.83 and a beta of 1.46. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $115.22. The business has a fifty day moving average price of $86.23 and a 200 day moving average price of $84.91.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.26. Jackson Financial had a return on equity of 14.78% and a net margin of 1.73%. The firm had revenue of ($471.00) million during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the business posted $5.32 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. Equities research analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.5%. Jackson Financial’s dividend payout ratio (DPR) is 310.68%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $100.00 to $102.00 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Barclays upped their price objective on Jackson Financial from $108.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. 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.

Jackson Financial 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.