Royal Bank of Canada Sells 7,862 Shares of Jackson Financial Inc. $JXN

Key Points

• Royal Bank of Canada reduced its stake in Jackson Financial by 5.7%, selling 7,862 shares, and now owns approximately 0.18% of the company, valued at $10.97 million.
• Jackson Financial's shares increased by 2.4%, with a market cap of $6.91 billion and recent earnings of $4.87 per share, surpassing estimates.
• The company declared a quarterly dividend of $0.80, contributing to an annual yield of 3.2%, with a current payout ratio of -5,333.33%.

Royal Bank of Canada trimmed its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 5.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,886 shares of the company's stock after selling 7,862 shares during the period. Royal Bank of Canada owned approximately 0.18% of Jackson Financial worth $10,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raiffeisen Bank International AG raised its stake in shares of Jackson Financial by 11.7% in the first quarter. Raiffeisen Bank International AG now owns 1,270 shares of the company's stock worth $106,000 after purchasing an additional 133 shares during the last quarter. CWM LLC lifted its position 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 in the last quarter. Wealthcare Advisory Partners LLC lifted its position 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 in the last quarter. Xponance Inc. increased its holdings in shares of Jackson Financial by 2.5% in the first quarter. Xponance Inc. now owns 6,738 shares of the company's stock worth $565,000 after purchasing an additional 166 shares during the period. Finally, Ethic Inc. increased its holdings in shares of Jackson Financial by 3.9% in the first quarter. Ethic Inc. now owns 5,433 shares of the company's stock worth $459,000 after purchasing an additional 204 shares during the period. 89.96% of the stock is owned by institutional investors.

Jackson Financial Stock Up 2.4%

Shares of JXN stock opened at $99.18 on Friday. The company's fifty day simple moving average is $91.98 and its two-hundred day simple moving average is $85.50. 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 has a market cap of $6.91 billion, a P/E ratio of -1,652.72 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.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.26. The firm had revenue of ($471.00) million for the quarter, compared to analysts' expectations of $1.77 billion. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The business's revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.32 EPS. Analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal 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 issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. Jackson Financial's payout ratio is currently -5,333.33%.

Wall Street Analysts Forecast Growth

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

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.

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