Jackson Financial Inc. (NYSE:JXN) Position Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in Jackson Financial Inc. (NYSE:JXN) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,100 shares of the company’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Jackson Financial were worth $2,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JXN. Assetmark Inc. acquired a new stake in shares of Jackson Financial in the fourth quarter valued at about $2,270,000. Cetera Investment Advisers bought a new position in shares of Jackson Financial in the first quarter valued at approximately $3,812,000. FORA Capital LLC grew its holdings in Jackson Financial by 399.7% during the 1st quarter. FORA Capital LLC now owns 27,894 shares of the company’s stock worth $1,845,000 after acquiring an additional 22,312 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of Jackson Financial by 32.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 61,139 shares of the company’s stock valued at $4,044,000 after buying an additional 14,848 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of Jackson Financial by 16.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,031 shares of the company’s stock valued at $2,714,000 after buying an additional 5,819 shares during the period. 89.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday. Jefferies Financial Group upped their target price on shares of Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a report on Monday, July 29th. Evercore ISI lowered their price target on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $74.20.

Insider Transactions at Jackson Financial

In other news, CFO Don W. Cummings acquired 1,445 shares of Jackson Financial stock in a transaction on Wednesday, June 5th. The stock was acquired at an average cost of $72.70 per share, for a total transaction of $105,051.50. Following the purchase, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Jackson Financial Stock Performance

Shares of JXN stock traded up $2.09 during trading on Friday, reaching $86.12. 218,675 shares of the company’s stock traded hands, compared to its average volume of 759,577. The company has a market capitalization of $6.57 billion, a P/E ratio of 2.22 and a beta of 1.51. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $79.24 and its 200 day moving average is $70.14. Jackson Financial Inc. has a 1 year low of $33.46 and a 1 year high of $89.81.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.00. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company earned $3.34 EPS. Jackson Financial’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts expect that Jackson Financial Inc. will post 17.33 EPS for the current year.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a dividend yield of 3.25%. Jackson Financial’s dividend payout ratio is 7.40%.

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.