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 lowered its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 about 0.18% of Jackson Financial worth $10,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Jackson Financial during the first quarter worth $37,000. Brooklyn Investment Group boosted its position in Jackson Financial by 987.0% during 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 period. Versant Capital Management Inc boosted its position in Jackson Financial by 161.9% during 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. New Age Alpha Advisors LLC bought a new position in Jackson Financial during the first quarter worth $67,000. Finally, HWG Holdings LP bought a new position in Jackson Financial during the first quarter worth $72,000. 89.96% of the stock is owned by institutional investors.

Jackson Financial Price Performance

Shares of JXN traded up $2.95 during midday trading on Wednesday, hitting $96.79. The company's stock had a trading volume of 1,032,713 shares, compared to its average volume of 482,670. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of -1,612.91 and a beta of 1.46. 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 company's fifty day simple moving average is $92.65 and its two-hundred day simple moving average is $85.73.

Jackson Financial (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 EPS for the quarter, beating analysts' consensus estimates of $4.61 by $0.26. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The company had revenue of ($471.00) million during the quarter, compared to analysts' expectations of $1.77 billion. During the same period in the prior year, the company earned $5.32 EPS. Jackson Financial's revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts expect that Jackson Financial Inc. will post 20.55 earnings per share 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. Stockholders of record on Monday, September 15th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio is presently -5,333.33%.

Analyst Upgrades and Downgrades

JXN has been the topic of several recent research reports. Morgan Stanley increased their price objective on Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research report on Monday, August 11th. Zacks Research cut Jackson Financial from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 12th. Barclays increased their price objective on Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Jefferies Financial Group increased their price objective on Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.