Jackson Financial Inc. (NYSE:JXN) Holdings Reduced by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in Jackson Financial Inc. (NYSE:JXN) by 9.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,200 shares of the company’s stock after selling 2,300 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Jackson Financial were worth $1,723,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Jackson Financial by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,335 shares of the company’s stock valued at $332,035,000 after buying an additional 163,598 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in shares of Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after acquiring an additional 397,287 shares during the period. Goldman Sachs Group Inc. lifted its position in Jackson Financial by 6.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock worth $89,021,000 after purchasing an additional 111,875 shares during the period. American Century Companies Inc. boosted its stake in Jackson Financial by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 1,623,071 shares of the company’s stock valued at $120,529,000 after purchasing an additional 98,792 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock valued at $90,525,000 after purchasing an additional 724,148 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Jackson Financial Trading Up 4.7 %

Shares of JXN opened at $96.55 on Friday. The business’s 50-day moving average price is $85.64 and its 200 day moving average price is $77.15. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $7.36 billion, a P/E ratio of 2.55 and a beta of 1.50. Jackson Financial Inc. has a 1-year low of $35.27 and a 1-year high of $96.85.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $3.34 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Analysts expect that Jackson Financial Inc. will post 18.49 earnings per share for the current year.

Jackson Financial announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 7th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the company to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.90%. The ex-dividend date was Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is currently 7.40%.

Insider Activity

In other Jackson Financial news, EVP Carrie Chelko sold 5,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $91.31, for a total transaction of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares in the company, valued at approximately $5,645,605.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Barclays started coverage on shares of Jackson Financial in a report on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 target price on the stock. Evercore ISI cut their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group lifted their price target on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and one has given 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 $80.00.

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.