Jackson Financial Inc. (NYSE:JXN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,208,821 shares of the company’s stock after selling 371,762 shares during the period. Hsbc Holdings PLC owned about 2.90% of Jackson Financial worth $165,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its stake in Jackson Financial by 8.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,743 shares of the company’s stock valued at $569,000 after buying an additional 588 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Jackson Financial by 3.5% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,084 shares of the company’s stock worth $749,000 after buying an additional 341 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in Jackson Financial by 467.0% in the second quarter. Axxcess Wealth Management LLC now owns 18,831 shares of the company’s stock worth $1,398,000 after acquiring an additional 15,510 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of Jackson Financial by 2.6% during the second quarter. Denali Advisors LLC now owns 93,600 shares of the company’s stock valued at $6,951,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its position in Jackson Financial by 115.9% during the 2nd quarter. Edgestream Partners L.P. now owns 96,880 shares of the company’s stock valued at $7,194,000 after purchasing an additional 52,013 shares during the period. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

JXN stock opened at $87.04 on Thursday. The company has a 50-day simple moving average of $83.59 and a 200 day simple moving average of $74.61. The company has a market capitalization of $6.64 billion, a P/E ratio of 2.30 and a beta of 1.50. 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 fifty-two week low of $35.27 and a fifty-two week high of $90.10.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.34 earnings per share. Sell-side analysts predict 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. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, September 5th. Jackson Financial’s payout ratio is currently 7.40%.

Analysts Set New Price Targets

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

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.