Hsbc Holdings PLC Cuts Holdings in Jackson Financial Inc. $JXN

Hsbc Holdings PLC trimmed its position in Jackson Financial Inc. (NYSE:JXN) by 4.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,485,806 shares of the company’s stock after selling 65,136 shares during the period. Hsbc Holdings PLC owned about 2.11% of Jackson Financial worth $156,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in shares of Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC lifted its holdings in Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after acquiring an additional 143 shares during the period. Plato Investment Management Ltd bought a new stake in Jackson Financial during the fourth quarter worth $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial in the third quarter worth $37,000. Finally, Employees Retirement System of Texas purchased a new position in Jackson Financial in the third quarter worth $38,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 0.2%

Shares of NYSE JXN opened at $125.95 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a market capitalization of $8.78 billion, a PE ratio of -20.61 and a beta of 1.32. Jackson Financial Inc. has a one year low of $82.65 and a one year high of $126.69. The business’s fifty day moving average price is $109.14 and its 200-day moving average price is $110.28.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s dividend payout ratio (DPR) is currently -58.92%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on JXN shares. Weiss Ratings lowered Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Barclays raised their price objective on shares of Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Finally, Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.40.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.