Hsbc Holdings PLC Trims Stock Holdings in Jackson Financial Inc. $JXN

Hsbc Holdings PLC decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 4.2% during the first quarter, HoldingsChannel reports. The fund owned 1,485,806 shares of the company’s stock after selling 65,136 shares during the quarter. Hsbc Holdings PLC’s holdings in Jackson Financial were worth $156,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in JXN. Integrated Wealth Concepts LLC grew its position in shares of Jackson Financial by 33.2% in the first quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock valued at $458,000 after purchasing an additional 1,363 shares in the last quarter. Woodline Partners LP purchased a new stake in Jackson Financial during the 1st quarter worth about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Jackson Financial by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock worth $17,664,000 after purchasing an additional 7,380 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Jackson Financial by 55.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $81,000 after purchasing an additional 325 shares during the period. Finally, Marshall Wace LLP purchased a new position in Jackson Financial during the 2nd quarter valued at about $986,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JXN. Keefe, Bruyette & Woods upped their price target on Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Weiss Ratings lowered shares of 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 objective for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Wall Street Zen lowered shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Barclays increased their target price on shares of Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.40.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $125.95 on Friday. The firm has a market capitalization of $8.78 billion, a P/E ratio of -20.61 and a beta of 1.32. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $109.14 and its two-hundred day simple moving average is $110.28. Jackson Financial Inc. has a twelve month low of $82.65 and a twelve month high of $126.69.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $3.60 annualized dividend and a dividend yield of 2.9%. Jackson Financial’s payout ratio is presently -58.92%.

Jackson Financial Company Profile

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.