Bank of New York Mellon Corp Buys 24,747 Shares of Jackson Financial Inc. $JXN

Bank of New York Mellon Corp boosted its stake in Jackson Financial Inc. (NYSE:JXN) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 owned approximately 1.29% of Jackson Financial worth $96,295,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Accordant Advisory Group Inc bought a new position in shares of Jackson Financial during the 4th quarter valued at approximately $1,678,000. Horizon Investments LLC purchased a new position in Jackson Financial during the fourth quarter valued at $2,638,000. Artemis Investment Management LLP purchased a new position in shares of Jackson Financial during the fourth quarter valued at about $2,696,000. Candriam S.C.A. grew its holdings in Jackson Financial by 31.5% during the 1st quarter. Candriam S.C.A. now owns 177,950 shares of the company’s stock valued at $18,813,000 after buying an additional 42,607 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its position in Jackson Financial by 29.3% in the first quarter. Kestra Advisory Services LLC now owns 35,593 shares of the company’s stock worth $3,763,000 after purchasing an additional 8,057 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

NYSE 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 company has a market cap of $8.59 billion, a price-to-earnings ratio of -20.15 and a beta of 1.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The stock’s fifty day moving average price is $109.41 and its 200 day moving average price is $110.41.

Jackson Financial Dividend Announcement

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

Analysts Set New Price Targets

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

About Jackson Financial

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.