Jackson Financial Inc. (NYSE:JXN) Stock Holdings Reduced by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in Jackson Financial Inc. (NYSE:JXN) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,132 shares of the company’s stock after selling 7,649 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Jackson Financial worth $7,584,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Preferred LLC acquired a new position in shares of Jackson Financial during the 4th quarter worth about $1,680,000. Teachers Retirement System of The State of Kentucky bought a new stake in Jackson Financial during the 3rd quarter worth approximately $871,000. Federated Hermes Inc. lifted its holdings in Jackson Financial by 58.8% during the 4th quarter. Federated Hermes Inc. now owns 521,266 shares of the company’s stock worth $26,689,000 after buying an additional 192,995 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Jackson Financial by 16.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after buying an additional 1,518,547 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Jackson Financial by 148.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 97,616 shares of the company’s stock worth $4,982,000 after buying an additional 58,350 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Up 2.5 %

Jackson Financial stock opened at $71.14 on Friday. The company has a market capitalization of $5.51 billion, a P/E ratio of 7.25 and a beta of 1.54. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average price of $63.70 and a 200-day moving average price of $53.16. Jackson Financial Inc. has a twelve month low of $26.70 and a twelve month high of $71.66.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.40 billion. Jackson Financial’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.66 EPS. As a group, equities analysts predict that Jackson Financial Inc. will post 15.95 EPS for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.94%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, March 11th. Jackson Financial’s dividend payout ratio (DPR) is currently 28.54%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. 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 report on Thursday, April 11th. Morgan Stanley lifted their price objective 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, April 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.80.

Insider Activity at Jackson Financial

In other news, Director Derek G. Kirkland bought 3,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $55.67 per share, with a total value of $194,845.00. Following the completion of the acquisition, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

About Jackson Financial

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.