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

Bank of New York Mellon Corp trimmed its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 767,047 shares of the company's stock after selling 135,102 shares during the period. Bank of New York Mellon Corp owned about 1.04% of Jackson Financial worth $66,794,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of Jackson Financial in the 4th quarter worth about $26,000. Blue Trust Inc. lifted its holdings in Jackson Financial by 108.1% during the 4th quarter. Blue Trust Inc. now owns 774 shares of the company's stock valued at $71,000 after purchasing an additional 402 shares during the last quarter. R Squared Ltd acquired a new position in Jackson Financial in the fourth quarter valued at about $126,000. Harbor Capital Advisors Inc. bought a new stake in Jackson Financial during the third quarter worth about $141,000. Finally, GAMMA Investing LLC increased its holdings in shares of Jackson Financial by 7.1% during the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company's stock worth $155,000 after buying an additional 118 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JXN has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $103.00 to $105.00 and gave the stock a "market perform" rating in a report on Friday, February 28th. Evercore ISI lowered Jackson Financial from an "in-line" rating to an "underperform" rating and boosted their price objective for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Finally, Barclays raised their target price on Jackson Financial from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $97.40.

Insider Activity

In other Jackson Financial news, Director Gregory T. Durant purchased 1,500 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $90.28 per share, with a total value of $135,420.00. Following the completion of 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company's stock.

Jackson Financial Price Performance

Shares of Jackson Financial stock traded up $3.45 during midday trading on Wednesday, reaching $87.83. The company had a trading volume of 857,988 shares, compared to its average volume of 665,163. The stock has a fifty day simple moving average of $90.66 and a 200 day simple moving average of $92.99. Jackson Financial Inc. has a 1-year low of $56.67 and a 1-year high of $115.22. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 7.67 and a beta of 1.47.

Jackson Financial (NYSE:JXN - Get Free Report) last released 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 firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. As a group, equities research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, March 11th. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 3.64%. Jackson Financial's dividend payout ratio is presently 27.95%.

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.