Teachers Retirement System of The State of Kentucky Has $1.31 Million Stake in Jackson Financial Inc. (NYSE:JXN)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,500 shares of the company’s stock after acquiring an additional 2,700 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Jackson Financial were worth $1,305,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Asset Allocation Strategies LLC increased its holdings in shares of Jackson Financial by 1.4% in the fourth quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock valued at $886,000 after purchasing an additional 242 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Jackson Financial by 18.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock valued at $84,000 after buying an additional 250 shares during the last quarter. Private Trust Co. NA raised its holdings in 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 period. Kendall Capital Management lifted its position in Jackson Financial by 0.7% during the fourth quarter. Kendall Capital Management now owns 51,310 shares of the company’s stock worth $2,627,000 after acquiring an additional 360 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Jackson Financial by 5.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,699 shares of the company’s stock worth $497,000 after acquiring an additional 462 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

JXN has been the topic of a number of recent research reports. Evercore ISI increased their target price on Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Morgan Stanley increased their price objective on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods cut shares of Jackson Financial from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $75.00 to $80.00 in a research report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and an average target price of $62.80.

Jackson Financial Price Performance

Jackson Financial stock opened at $72.59 on Monday. The firm has a market cap of $5.54 billion, a PE ratio of 1.92 and a beta of 1.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32. The stock’s fifty day moving average price is $72.51 and its two-hundred day moving average price is $61.11. Jackson Financial Inc. has a one year low of $28.57 and a one year high of $81.52.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the business posted $3.15 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts expect that Jackson Financial Inc. will post 16.98 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s dividend payout ratio (DPR) is presently 7.40%.

Insider Buying and Selling

In other news, CFO Don W. Cummings acquired 1,445 shares of the stock in a transaction on Wednesday, June 5th. The stock was acquired at an average cost of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the transaction, the chief financial officer now directly owns 45,711 shares in the company, valued at $3,323,189.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.67, for a total transaction of $983,710.00. Following the completion of the sale, the chief operating officer now directly owns 93,405 shares in the company, valued at approximately $7,067,956.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Don W. Cummings bought 1,445 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was acquired at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the transaction, the chief financial officer now owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.

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.