Jackson Financial Inc. $JXN Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Jackson Financial Inc. by 6%, holding approximately 2.72% of the company worth $164.25 million after selling 126,156 shares.
• Analyst reports indicate a bullish outlook for Jackson Financial, with price targets raised by Barclays, Morgan Stanley, and Jefferies, reflecting growing confidence in the stock amidst varying ratings.
• Jackson Financial announced a quarterly dividend of $0.80 per share, representing an annualized yield of 3.3%, despite a substantial payout ratio of -5,333.33%.

Hsbc Holdings PLC cut its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,976,306 shares of the company's stock after selling 126,156 shares during the quarter. Hsbc Holdings PLC owned about 2.72% of Jackson Financial worth $164,253,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of JXN. Raiffeisen Bank International AG increased its stake in shares of Jackson Financial by 11.7% during the first quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company's stock worth $106,000 after acquiring an additional 133 shares during the period. CWM LLC increased its stake in shares of Jackson Financial by 7.9% during the first quarter. CWM LLC now owns 1,975 shares of the company's stock worth $165,000 after acquiring an additional 145 shares during the period. Wealthcare Advisory Partners LLC increased its stake 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 worth $1,181,000 after acquiring an additional 166 shares during the period. Xponance Inc. increased its stake in shares of Jackson Financial by 2.5% during the first quarter. Xponance Inc. now owns 6,738 shares of the company's stock worth $565,000 after acquiring an additional 166 shares during the period. Finally, Ethic Inc. increased its stake in shares of Jackson Financial by 3.9% during the first quarter. Ethic Inc. now owns 5,433 shares of the company's stock worth $459,000 after acquiring an additional 204 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Morgan Stanley boosted their price target on shares of Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a research note on Monday. Jefferies Financial Group boosted their price target on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $101.20.

Jackson Financial Stock Up 1.8%

JXN stock opened at $95.6440 on Wednesday. The company has a market cap of $6.66 billion, a P/E ratio of -1,593.80 and a beta of 1.46. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $115.22. The company's 50-day moving average price is $88.14 and its 200 day moving average price is $84.77. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, topping analysts' consensus estimates of $4.61 by $0.26. The firm had revenue of ($471.00) million for the quarter, compared to the consensus estimate of $1.77 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The firm's revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.32 earnings per share. On average, research analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.3%. Jackson Financial's payout ratio is currently -5,333.33%.

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.

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