Bank of New York Mellon Corp Has $66.79 Million Stake in Jackson Financial Inc. (NYSE:JXN)

Bank of New York Mellon Corp cut its position in shares of Jackson Financial Inc. (NYSE:JXN) by 15.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 767,047 shares of the company’s stock after selling 135,102 shares during the quarter. Bank of New York Mellon Corp’s holdings in Jackson Financial were worth $66,794,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Creative Planning boosted its holdings in shares of Jackson Financial by 10.2% during the 3rd quarter. Creative Planning now owns 4,041 shares of the company’s stock worth $369,000 after buying an additional 373 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Jackson Financial by 10.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,047 shares of the company’s stock valued at $369,000 after purchasing an additional 396 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Jackson Financial by 2.4% during the third quarter. New York State Teachers Retirement System now owns 56,350 shares of the company’s stock worth $5,141,000 after buying an additional 1,338 shares during the last quarter. Gladstone Institutional Advisory LLC acquired a new position in shares of Jackson Financial during the third quarter valued at about $216,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Jackson Financial by 4.2% during the third quarter. Janney Montgomery Scott LLC now owns 50,539 shares of the company’s stock worth $4,611,000 after acquiring an additional 2,040 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Activity at Jackson Financial

In related news, Director Gregory T. Durant purchased 1,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $90.28 per share, with a total value of $135,420.00. Following the purchase, the director now directly owns 32,023 shares in the company, valued at approximately $2,891,036.44. This represents a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Jackson Financial Trading Down 3.4 %

Shares of JXN opened at $88.52 on Tuesday. Jackson Financial Inc. has a twelve month low of $54.80 and a twelve month high of $115.22. The stock has a market cap of $6.54 billion, a PE ratio of 7.73 and a beta of 1.47. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $90.80 and its 200-day moving average price is $93.07.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates 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. On average, equities analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Tuesday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is 27.95%.

Analysts Set New Price Targets

Several research firms have recently issued reports on JXN. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their target price for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Barclays boosted their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and an average target price of $97.40.

About Jackson Financial

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.