Louisiana State Employees Retirement System Acquires New Stake in Jackson Financial Inc. (NYSE:JXN)

Louisiana State Employees Retirement System acquired a new stake in Jackson Financial Inc. (NYSE:JXN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 35,400 shares of the company’s stock, valued at approximately $1,812,000.

Several other institutional investors have also added to or reduced their stakes in JXN. Hsbc Holdings PLC lifted its position in Jackson Financial by 45,699.9% in the 3rd quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock valued at $124,043,000 after acquiring an additional 3,234,184 shares in the last quarter. EJF Capital LLC lifted its position in Jackson Financial by 2,218.3% in the 1st quarter. EJF Capital LLC now owns 1,759,620 shares of the company’s stock valued at $77,828,000 after acquiring an additional 1,683,720 shares in the last quarter. Vanguard Group Inc. lifted its position in Jackson Financial by 16.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after acquiring an additional 1,518,547 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Jackson Financial by 38.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,939,256 shares of the company’s stock valued at $105,375,000 after acquiring an additional 1,088,980 shares in the last quarter. Finally, State Street Corp lifted its position in Jackson Financial by 88.6% in the 2nd quarter. State Street Corp now owns 2,238,285 shares of the company’s stock valued at $59,874,000 after acquiring an additional 1,051,563 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland purchased 3,500 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $55.67 per share, for a total transaction of $194,845.00. Following the purchase, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Jackson Financial Stock Up 1.3 %

Jackson Financial stock opened at $64.37 on Friday. The firm has a market capitalization of $4.98 billion, a PE ratio of 6.56 and a beta of 1.57. The company’s 50-day moving average is $59.66 and its 200-day moving average is $50.70. Jackson Financial Inc. has a fifty-two week low of $26.70 and a fifty-two week 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 released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.40 billion. Jackson Financial’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.66 EPS. Sell-side analysts anticipate that Jackson Financial Inc. will post 15.95 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were paid a $0.70 dividend. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is 28.54%.

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.