New York State Teachers Retirement System Sells 375 Shares of Jackson Financial Inc. (NYSE:JXN)

New York State Teachers Retirement System lowered its stake in Jackson Financial Inc. (NYSE:JXN) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 56,355 shares of the company’s stock after selling 375 shares during the quarter. New York State Teachers Retirement System’s holdings in Jackson Financial were worth $2,885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JXN. Private Trust Co. NA lifted its holdings in shares of Jackson Financial by 10.2% in the 4th quarter. Private Trust Co. NA now owns 3,156 shares of the company’s stock valued at $162,000 after acquiring an additional 292 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Jackson Financial by 4.9% in the 3rd 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 during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings 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 purchasing an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Jackson Financial by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 52,212 shares of the company’s stock worth $1,996,000 after acquiring an additional 527 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in Jackson Financial by 2.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 23,660 shares of the company’s stock worth $904,000 after purchasing an additional 540 shares during the period. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

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

Jackson Financial Stock Up 1.2 %

NYSE:JXN opened at $64.16 on Tuesday. The firm has a market capitalization of $4.97 billion, a P/E ratio of 6.54 and a beta of 1.57. The company’s fifty day moving average price is $59.11 and its 200-day moving average price is $50.43. Jackson Financial Inc. has a 1-year low of $26.70 and a 1-year high of $68.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33.

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

Jackson Financial Increases Dividend

The business 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. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.36%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s payout ratio is currently 28.54%.

Insider Buying and Selling

In other news, Director Derek G. Kirkland purchased 3,500 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

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.