South Dakota Investment Council Sells 13,776 Shares of Jackson Financial Inc. $JXN

South Dakota Investment Council trimmed its stake in Jackson Financial Inc. (NYSE:JXN) by 17.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,246 shares of the company’s stock after selling 13,776 shares during the period. South Dakota Investment Council’s holdings in Jackson Financial were worth $6,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC grew its holdings in Jackson Financial by 79.9% in the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after buying an additional 143 shares during the last quarter. Plato Investment Management Ltd bought a new position in Jackson Financial in the 4th quarter worth approximately $35,000. Advisory Services Network LLC acquired a new position in shares of Jackson Financial during the third quarter worth approximately $37,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Jackson Financial during the third quarter worth approximately $38,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JXN shares. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $125.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Jefferies Financial Group raised shares of Jackson Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $120.00 to $140.00 in a report on Friday, July 10th. Wall Street Zen lowered shares of Jackson Financial from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Finally, Barclays upped their price objective on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $126.40.

Jackson Financial Stock Up 1.3%

Shares of JXN stock opened at $122.00 on Friday. Jackson Financial Inc. has a one year low of $82.65 and a one year high of $126.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a fifty day moving average price of $111.29 and a 200 day moving average price of $110.94. The stock has a market cap of $8.51 billion, a P/E ratio of -19.97 and a beta of 1.32.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 11th. Jackson Financial’s dividend payout ratio (DPR) is presently -58.92%.

Jackson Financial 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.