Jackson Financial Inc. (NYSE:JXN) Position Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in Jackson Financial Inc. (NYSE:JXN) by 14.4% during the second quarter, Holdings Channel reports. The firm owned 2,208,821 shares of the company’s stock after selling 371,762 shares during the period. Hsbc Holdings PLC’s holdings in Jackson Financial were worth $165,968,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Assetmark Inc. bought a new position in shares of Jackson Financial in the fourth quarter valued at $2,270,000. Cetera Investment Advisers acquired a new stake in shares of Jackson Financial during the first quarter worth $3,812,000. FORA Capital LLC lifted its holdings in shares of Jackson Financial by 399.7% during the first quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock valued at $1,845,000 after purchasing an additional 22,312 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Jackson Financial by 32.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after purchasing an additional 14,848 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in Jackson Financial by 16.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock worth $2,714,000 after purchasing an additional 5,819 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JXN has been the subject of a number of analyst reports. Barclays initiated coverage on shares of Jackson Financial in a research note on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price objective for the company. Evercore ISI reduced their price target on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley lifted their price target on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $80.00.

Jackson Financial Stock Up 1.4 %

JXN stock opened at $87.04 on Thursday. The company has a 50 day moving average of $83.59 and a two-hundred day moving average of $74.61. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a 12-month low of $35.27 and a 12-month high of $90.10. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 2.30 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business posted $3.34 earnings per share. Jackson Financial’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that Jackson Financial Inc. will post 18.49 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 19th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.22%. Jackson Financial’s dividend payout ratio is 7.40%.

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.