Federated Hermes Inc. Sells 72,918 Shares of Jackson Financial Inc. (NYSE:JXN)

Federated Hermes Inc. reduced its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 7.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 937,572 shares of the company's stock after selling 72,918 shares during the period. Federated Hermes Inc. owned approximately 1.29% of Jackson Financial worth $78,550,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quarry LP acquired a new position in Jackson Financial in the fourth quarter valued at approximately $28,000. NBC Securities Inc. acquired a new stake in Jackson Financial in the first quarter worth $37,000. Versant Capital Management Inc raised its holdings in Jackson Financial by 161.9% in the first quarter. Versant Capital Management Inc now owns 550 shares of the company's stock worth $46,000 after purchasing an additional 340 shares during the period. HWG Holdings LP acquired a new stake in Jackson Financial in the first quarter worth $72,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Jackson Financial in the fourth quarter worth $79,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of NYSE:JXN traded down $3.50 during midday trading on Friday, hitting $84.06. The stock had a trading volume of 660,097 shares, compared to its average volume of 482,200. The company's 50-day moving average price is $85.83 and its 200-day moving average price is $85.03. The company has a market capitalization of $6.01 billion, a P/E ratio of 81.62 and a beta of 1.46. 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 Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $115.22.

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

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $3.20 annualized dividend and a dividend yield of 3.8%. Jackson Financial's payout ratio is 310.68%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on JXN shares. Barclays increased their price objective on shares of Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Morgan Stanley set a $91.00 target price on shares of Jackson Financial and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $100.00 to $102.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th.

About Jackson Financial

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.