Louisiana State Employees Retirement System Buys New Position in Jackson Financial Inc. $JXN

Louisiana State Employees Retirement System acquired a new position in shares of Jackson Financial Inc. (NYSE:JXN) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,400 shares of the company’s stock, valued at approximately $3,320,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of JXN. Integrated Wealth Concepts LLC boosted its stake in Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock valued at $458,000 after purchasing an additional 1,363 shares during the last quarter. Woodline Partners LP bought a new stake in Jackson Financial in the 1st quarter worth approximately $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Jackson Financial by 3.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock valued at $17,664,000 after acquiring an additional 7,380 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Jackson Financial by 55.5% in the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $81,000 after purchasing an additional 325 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Jackson Financial in the second quarter valued at about $986,000. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Stock Up 0.3%

Shares of Jackson Financial stock opened at $106.77 on Friday. The company has a market cap of $7.45 billion, a price-to-earnings ratio of -17.47 and a beta of 1.32. Jackson Financial Inc. has a twelve month low of $82.65 and a twelve month high of $123.61. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $108.96 and its 200 day moving average is $109.55.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s dividend payout ratio is currently -58.92%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JXN. Keefe, Bruyette & Woods raised their price target on Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Barclays lowered their price objective on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $115.80.

Jackson Financial Company Profile

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.