Bank of New York Mellon Corp Lowers Position in Jackson Financial Inc. (NYSE:JXN)

Bank of New York Mellon Corp reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 9.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 696,083 shares of the company's stock after selling 70,964 shares during the period. 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).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC increased its holdings in shares of Jackson Financial by 1.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 14,096 shares of the company's stock valued at $1,181,000 after acquiring an additional 166 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Jackson Financial by 1.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 18,048 shares of the company's stock valued at $1,572,000 after purchasing an additional 193 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Jackson Financial by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,118 shares of the company's stock worth $272,000 after buying an additional 199 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Jackson Financial by 0.9% during the first quarter. Exchange Traded Concepts LLC now owns 22,867 shares of the company's stock worth $1,916,000 after buying an additional 206 shares during the period. Finally, MML Investors Services LLC grew its holdings in shares of Jackson Financial by 1.7% during the fourth quarter. MML Investors Services LLC now owns 13,530 shares of the company's stock valued at $1,178,000 after buying an additional 225 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley set a $91.00 target price on Jackson Financial and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Barclays raised 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, Keefe, Bruyette & Woods upped their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $96.40.

Jackson Financial Stock Performance

Shares of JXN traded up $1.53 during mid-day trading on Wednesday, reaching $86.38. The company had a trading volume of 561,046 shares, compared to its average volume of 750,617. The stock has a market capitalization of $6.17 billion, a P/E ratio of 83.87 and a beta of 1.47. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22. The stock has a 50 day moving average of $85.12 and a two-hundred day moving average of $85.00. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.43.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.17. Jackson Financial had a net margin of 1.73% and a return on equity of 15.46%. The firm had revenue of $3.75 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the previous year, the business posted $4.23 EPS. The business's revenue was down .6% compared to the same quarter last year. On average, analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Thursday, June 12th. Jackson Financial's dividend payout ratio is currently 310.68%.

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.