Arizona State Retirement System Lowers Holdings in Jackson Financial Inc. (NYSE:JXN)

Arizona State Retirement System trimmed its holdings in Jackson Financial Inc. (NYSE:JXN) by 2.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 20,609 shares of the company’s stock after selling 529 shares during the period. Arizona State Retirement System’s holdings in Jackson Financial were worth $1,055,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Jackson Financial by 4.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 9,237 shares of the company’s stock valued at $353,000 after acquiring an additional 429 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Jackson Financial by 9.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,025 shares of the company’s stock worth $184,000 after buying an additional 500 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Jackson Financial by 1.0% in the third quarter. Public Employees Retirement System of Ohio now owns 52,212 shares of the company’s stock worth $1,996,000 after buying an additional 527 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Jackson Financial by 2.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 23,660 shares of the company’s stock worth $904,000 after buying an additional 540 shares in the last quarter. Finally, Mirabella Financial Services LLP lifted its position in shares of Jackson Financial by 6.7% in the first quarter. Mirabella Financial Services LLP now owns 9,253 shares of the company’s stock worth $409,000 after buying an additional 585 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Derek G. Kirkland acquired 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the purchase, the director now directly owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Evercore ISI boosted their target price on Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their target price on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday. The Goldman Sachs Group boosted their target price on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $55.00 target price on shares of Jackson Financial in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.80.

Jackson Financial Trading Up 1.2 %

JXN opened at $64.16 on Tuesday. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of 6.54 and a beta of 1.57. The stock’s 50 day moving average price is $59.11 and its 200-day moving average price is $50.43. Jackson Financial Inc. has a one year low of $26.70 and a one year high of $68.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.40 billion. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $5.66 earnings per share. On average, equities analysts forecast that Jackson Financial Inc. will post 15.89 EPS for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.70 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.36%. Jackson Financial’s dividend payout ratio is currently 28.54%.

Jackson Financial Company 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.