New York State Teachers Retirement System Sells 451 Shares of Jackson Financial Inc. $JXN

New York State Teachers Retirement System trimmed its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,271 shares of the company’s stock after selling 451 shares during the period. New York State Teachers Retirement System’s holdings in Jackson Financial were worth $4,286,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. RFG Advisory LLC raised its stake in shares of Jackson Financial by 14.5% during the 2nd quarter. RFG Advisory LLC now owns 19,376 shares of the company’s stock worth $1,720,000 after purchasing an additional 2,452 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Jackson Financial during the 2nd quarter worth $209,000. CWM LLC raised its stake in shares of Jackson Financial by 39.8% during the 2nd quarter. CWM LLC now owns 2,762 shares of the company’s stock worth $245,000 after purchasing an additional 787 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Jackson Financial during the 2nd quarter worth $202,000. Finally, Tcfg Wealth Management LLC raised its stake in shares of Jackson Financial by 3.5% during the 2nd quarter. Tcfg Wealth Management LLC now owns 4,356 shares of the company’s stock worth $387,000 after purchasing an additional 149 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Trading Up 1.7%

Shares of JXN opened at $97.94 on Tuesday. The business’s 50-day moving average price is $98.26 and its 200-day moving average price is $88.41. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The stock has a market cap of $6.82 billion, a PE ratio of -1,632.06 and a beta of 1.45. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. The firm had revenue of ($1,162.00) million for the quarter. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%. On average, equities analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, September 15th. Jackson Financial’s dividend payout ratio is -5,333.33%.

Jackson Financial declared that its board has authorized a stock buyback program on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent analyst reports. Evercore ISI lifted their target price on Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research note on Thursday, October 9th. Keefe, Bruyette & Woods boosted their price objective on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Barclays boosted their price objective on Jackson Financial from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Jefferies Financial Group boosted their price objective on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.20.

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.