Bank of New York Mellon Corp acquired a new stake in Jackson Financial Inc. (NYSE:JXN - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 650,839 shares of the company's stock, valued at approximately $66,639,000. Bank of New York Mellon Corp owned about 0.93% of Jackson Financial as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in JXN. Horizon Investments LLC bought a new stake in shares of Jackson Financial in the fourth quarter worth $2,638,000. Renaissance Technologies LLC bought a new position in Jackson Financial in the first quarter valued at $10,836,000. Walleye Capital LLC acquired a new stake in Jackson Financial in the 1st quarter valued at $1,369,000. Candriam S.C.A. increased its stake in Jackson Financial by 31.5% in 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 during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Jackson Financial by 31.6% during the 1st quarter. Janus Henderson Group PLC now owns 484,713 shares of the company's stock worth $51,290,000 after buying an additional 116,436 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CEO Christopher Raub sold 5,000 shares of Jackson Financial stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the sale, the chief executive officer owned 42,160 shares of the company's stock, valued at approximately $5,509,890.40. The trade was a 10.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Carrie Chelko sold 7,500 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the completion of the transaction, the executive vice president owned 80,914 shares in the company, valued at approximately $10,861,895.36. This trade represents a 8.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts have recently weighed in on JXN shares. Evercore set a $135.00 price objective on Jackson Financial in a report on Wednesday, August 5th. Barclays upped their target price on Jackson Financial from $139.00 to $149.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Jefferies Financial Group raised Jackson Financial from a "hold" rating to a "buy" rating and increased their price target for the company from $120.00 to $140.00 in a research report on Friday, July 10th. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $130.00 to $140.00 and gave the company a "market perform" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen raised Jackson Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One investment 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $133.80.
Read Our Latest Report on Jackson Financial
Jackson Financial Price Performance
NYSE:JXN opened at $133.30 on Thursday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The stock's 50 day moving average price is $120.72 and its two-hundred day moving average price is $113.08. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 187.75 and a beta of 1.30. Jackson Financial Inc. has a 12-month low of $89.67 and a 12-month high of $137.99.
Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $1.58. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion.
Jackson Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Jackson Financial's payout ratio is currently 507.04%.
Jackson Financial Company Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding JXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jackson Financial Inc. (NYSE:JXN - Free Report).
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