Mackenzie Financial Corp Trims Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Mackenzie Financial Corp trimmed its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 71.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,926 shares of the company's stock after selling 21,806 shares during the quarter. Mackenzie Financial Corp's holdings in Jackson Financial were worth $748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. First Trust Advisors LP raised its position in shares of Jackson Financial by 13.4% in the 4th quarter. First Trust Advisors LP now owns 4,134,545 shares of the company's stock worth $360,036,000 after acquiring an additional 487,803 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Jackson Financial by 0.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,082,974 shares of the company's stock worth $94,305,000 after acquiring an additional 4,987 shares in the last quarter. Northern Trust Corp raised its position in shares of Jackson Financial by 12.1% in the 4th quarter. Northern Trust Corp now owns 953,082 shares of the company's stock worth $82,994,000 after acquiring an additional 102,953 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Jackson Financial by 385.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company's stock valued at $73,288,000 after buying an additional 694,518 shares in the last quarter. Finally, LSV Asset Management raised its stake in Jackson Financial by 11.5% in the fourth quarter. LSV Asset Management now owns 586,559 shares of the company's stock valued at $51,078,000 after buying an additional 60,459 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on JXN shares. Barclays boosted their price target on 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 set a $91.00 price target on Jackson Financial and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $100.00 to $102.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th.

Jackson Financial Trading Up 1.7%

NYSE:JXN traded up $1.47 during trading hours on Friday, hitting $90.39. The company had a trading volume of 621,513 shares, compared to its average volume of 588,343. The company has a current ratio of 0.28, a quick ratio of 0.29 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $86.52 and a 200 day moving average of $84.78. The company has a market cap of $6.46 billion, a P/E ratio of -1,506.25 and a beta of 1.46. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22.

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

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.5%. Jackson Financial's payout ratio is -5,333.33%.

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.