Hsbc Holdings PLC Cuts Stake in Jackson Financial Inc. (NYSE:JXN)

Hsbc Holdings PLC lowered its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,102,462 shares of the company's stock after selling 131,956 shares during the period. Hsbc Holdings PLC owned 2.85% of Jackson Financial worth $183,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of Jackson Financial by 13.4% in the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company's stock valued at $360,036,000 after acquiring an additional 487,803 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Jackson Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,099,517 shares of the company's stock worth $188,522,000 after purchasing an additional 13,362 shares in the last quarter. Norges Bank acquired a new position in Jackson Financial in the fourth quarter valued at about $98,767,000. Charles Schwab Investment Management Inc. grew its stake in Jackson Financial by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,240 shares of the company's stock worth $93,980,000 after buying an additional 28,337 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Jackson Financial by 4.2% in the 4th quarter. Federated Hermes Inc. now owns 1,010,490 shares of the company's stock valued at $87,993,000 after buying an additional 40,828 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Up 1.1 %

JXN stock traded up $0.82 during trading on Monday, reaching $77.58. 119,274 shares of the stock were exchanged, compared to its average volume of 747,758. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The firm's 50 day moving average is $80.57 and its 200 day moving average is $90.42. The firm has a market cap of $5.64 billion, a P/E ratio of 6.76 and a beta of 1.49.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. As a group, research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were issued a $0.80 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 4.12%. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's dividend payout ratio is currently 27.95%.

Insider Buying and Selling

In other news, CEO Scott Romine sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the transaction, the chief executive officer now directly owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig Donald Smith sold 20,607 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $69.52, for a total transaction of $1,432,598.64. Following the transaction, the chief executive officer now owns 116,423 shares of the company's stock, valued at $8,093,726.96. This trade represents a 15.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JXN shares. Keefe, Bruyette & Woods decreased their price target on shares of Jackson Financial from $105.00 to $90.00 and set a "market perform" rating on the stock in a report on Wednesday, April 9th. Barclays reduced their price objective on shares of Jackson Financial from $118.00 to $106.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, Morgan Stanley reduced their price target on Jackson Financial from $92.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Jackson Financial has an average rating of "Hold" and an average target price of $91.40.

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.