Northern Trust Corp Trims Stock Holdings in 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 lowered its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 920,553 shares of the company's stock after selling 32,529 shares during the period. Northern Trust Corp owned approximately 1.27% of Jackson Financial worth $77,124,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Brooklyn Investment Group grew its stake in shares of Jackson Financial by 987.0% in the first quarter. Brooklyn Investment Group now owns 500 shares of the company's stock worth $42,000 after purchasing an additional 454 shares during the last quarter. Versor Investments LP raised its holdings in Jackson Financial by 7.1% in the 1st quarter. Versor Investments LP now owns 14,910 shares of the company's stock worth $1,249,000 after acquiring an additional 983 shares during the last quarter. CacheTech Inc. purchased a new position in Jackson Financial in the 1st quarter worth approximately $234,000. Algert Global LLC raised its holdings in Jackson Financial by 71.3% in the 1st quarter. Algert Global LLC now owns 113,047 shares of the company's stock worth $9,471,000 after acquiring an additional 47,070 shares during the last quarter. Finally, Corient IA LLC purchased a new position in Jackson Financial in the 1st quarter worth approximately $209,000. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Up 0.6%

Shares of NYSE JXN traded up $0.59 during midday trading on Friday, reaching $98.83. 395,836 shares of the company's stock traded hands, compared to its average volume of 608,517. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46. The stock's 50 day simple moving average is $90.33 and its 200-day simple moving average is $85.08. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -1,646.88 and a beta of 1.46.

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

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio is currently -5,333.33%.

Analyst Ratings Changes

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

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.