Jackson Financial Inc. (NYSE:JXN) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its position in shares of Jackson Financial Inc. (NYSE:JXN) by 2.4% in the third quarter, Holdings Channel reports. The institutional investor owned 56,350 shares of the company’s stock after acquiring an additional 1,338 shares during the quarter. New York State Teachers Retirement System’s holdings in Jackson Financial were worth $5,141,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Jackson Financial by 9,363.9% in the third quarter. International Assets Investment Management LLC now owns 942,039 shares of the company’s stock worth $85,942,000 after acquiring an additional 932,085 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Jackson Financial by 146.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after purchasing an additional 724,148 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Jackson Financial during the 3rd quarter worth about $40,795,000. LSV Asset Management raised its holdings in Jackson Financial by 2,459.7% in the 2nd quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after buying an additional 422,175 shares during the period. Finally, Donald Smith & CO. Inc. lifted its position in Jackson Financial by 20.1% in the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after buying an additional 397,287 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Jackson Financial

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

Jackson Financial Stock Up 2.3 %

Jackson Financial stock opened at $100.41 on Wednesday. The firm has a market capitalization of $7.55 billion, a P/E ratio of 3.71 and a beta of 1.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. Jackson Financial Inc. has a twelve month low of $38.69 and a twelve month high of $104.05. The stock’s fifty day simple moving average is $92.62 and its 200-day simple moving average is $82.59.

Jackson Financial (NYSE:JXN) last issued its quarterly 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 company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Jackson Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.34 EPS. As a group, equities analysts expect that Jackson Financial Inc. will post 18.78 earnings per share for the current fiscal year.

Jackson Financial announced that its Board of Directors has initiated a share buyback program on Wednesday, August 7th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the company to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.