Texas Permanent School Fund Corp Raises Stock Holdings in Jackson Financial Inc. $JXN

Texas Permanent School Fund Corp lifted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 44.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,250 shares of the company’s stock after acquiring an additional 32,872 shares during the period. Texas Permanent School Fund Corp owned 0.15% of Jackson Financial worth $9,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Townsquare Capital LLC acquired a new stake in Jackson Financial during the 1st quarter worth $368,000. Ethic Inc. raised its holdings in shares of Jackson Financial by 3.9% in the first quarter. Ethic Inc. now owns 5,433 shares of the company’s stock valued at $459,000 after buying an additional 204 shares during the last quarter. Corient IA LLC acquired a new stake in shares of Jackson Financial during the first quarter worth about $209,000. Versor Investments LP grew its holdings in shares of Jackson Financial by 7.1% during the first quarter. Versor Investments LP now owns 14,910 shares of the company’s stock worth $1,249,000 after buying an additional 983 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in Jackson Financial by 987.0% in the 1st quarter. Brooklyn Investment Group now owns 500 shares of the company’s stock valued at $42,000 after acquiring an additional 454 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Up 0.5%

Jackson Financial stock opened at $106.31 on Tuesday. Jackson Financial Inc. has a fifty-two week low of $64.70 and a fifty-two week high of $107.61. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 14.70 and a beta of 1.45. The stock’s fifty day moving average is $97.44 and its two-hundred day moving average is $93.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.27 and a current ratio of 0.27.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The business had revenue of ($1,162.00) million during the quarter. Jackson Financial had a return on equity of 15.73% and a net margin of 1.73%. Analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial declared that its Board of Directors has authorized a share buyback program on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 14.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, December 4th. Jackson Financial’s dividend payout ratio is 44.26%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JXN. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Evercore ISI lifted their price objective on shares of Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 8th. Finally, Barclays raised their target price on shares of Jackson Financial from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.60.

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.