Louisiana State Employees Retirement System Raises Holdings in Jackson Financial Inc. (NYSE:JXN)

Louisiana State Employees Retirement System increased its position in Jackson Financial Inc. (NYSE:JXN) by 6.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 36,400 shares of the company’s stock after purchasing an additional 2,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Jackson Financial were worth $3,321,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in Jackson Financial in the second quarter valued at approximately $25,000. Blue Trust Inc. raised its position in Jackson Financial by 232.1% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after purchasing an additional 260 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Jackson Financial by 400.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the period. GAMMA Investing LLC grew its position in Jackson Financial by 60.8% during the 2nd quarter. GAMMA Investing LLC now owns 775 shares of the company’s stock worth $58,000 after purchasing an additional 293 shares during the last quarter. Finally, CWM LLC increased its stake in Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company’s stock valued at $76,000 after purchasing an additional 457 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Jackson Financial

In other news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the sale, the executive vice president now owns 61,829 shares of the company’s stock, valued at $5,645,605.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays raised their price target on Jackson Financial from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Morgan Stanley upped their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.33.

Jackson Financial Stock Down 1.2 %

Jackson Financial stock opened at $98.25 on Monday. The stock’s 50 day moving average price is $90.55 and its 200 day moving average price is $80.70. Jackson Financial Inc. has a 1-year low of $36.06 and a 1-year high of $101.73. The company has a market cap of $7.49 billion, a PE ratio of 2.60 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping the consensus estimate of $4.32 by $1.00. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $3.34 earnings per share. Jackson Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts predict that Jackson Financial Inc. will post 18.78 EPS for the current fiscal year.

Jackson Financial announced that its board has authorized a stock buyback plan on Wednesday, August 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 2.85%. Jackson Financial’s payout ratio is currently 7.40%.

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.