Northern Trust Corp Sells 32,529 Shares of Jackson Financial Inc. $JXN

Key Points

• Northern Trust Corp sold 32,529 shares of Jackson Financial, reducing its stake by 3.4% to approximately 1.27% ownership, valued at $77.1 million.
• Equities research analysts have raised price targets for Jackson Financial, with a consensus target price of $101.20 and a majority rating of "Hold."
• Jackson Financial recently declared a quarterly dividend of $0.80, with an annualized yield of 3.2%.

Northern Trust Corp reduced its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 920,553 shares of the company's stock after selling 32,529 shares during the quarter. Northern Trust Corp owned approximately 1.27% of Jackson Financial worth $77,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP bought a new stake in Jackson Financial during the fourth quarter valued at about $28,000. NBC Securities Inc. bought a new stake in Jackson Financial during the first quarter valued at about $37,000. Brooklyn Investment Group raised its holdings in Jackson Financial by 987.0% during the first quarter. Brooklyn Investment Group now owns 500 shares of the company's stock valued at $42,000 after acquiring an additional 454 shares during the period. Versant Capital Management Inc raised its holdings in Jackson Financial by 161.9% during the first quarter. Versant Capital Management Inc now owns 550 shares of the company's stock valued at $46,000 after acquiring an additional 340 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Jackson Financial during the first quarter valued at about $67,000. 89.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JXN shares. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a report on Monday, August 11th. Jefferies Financial Group raised their price target on Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a report on Monday, August 11th. Barclays raised their price target on Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Finally, Morgan Stanley lifted their target price on Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $101.20.

Jackson Financial Trading Up 3.2%

Shares of JXN stock opened at $98.5270 on Monday. Jackson Financial Inc. has a 12-month low of $64.70 and a 12-month high of $115.22. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average price is $88.99 and its 200-day moving average price is $84.83. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of -1,641.84 and a beta of 1.46.

Jackson Financial (NYSE:JXN - Get Free Report) last issued 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 analysts' expectations of $1.77 billion. During the same period in the previous year, the firm posted $5.32 earnings per share. The business's revenue was down 3.3% compared to the same quarter last year. Equities research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be given a $0.80 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.20 annualized dividend and a yield of 3.2%. Jackson Financial's dividend payout ratio (DPR) 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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