New York State Common Retirement Fund Reduces Stock Position in Jackson Financial Inc. (NYSE:JXN)

New York State Common Retirement Fund lowered its position in shares of Jackson Financial Inc. (NYSE:JXN) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,552 shares of the company’s stock after selling 3,200 shares during the period. New York State Common Retirement Fund owned about 0.06% of Jackson Financial worth $3,793,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its position in Jackson Financial by 3.3% during the 4th quarter. CIBC Asset Management Inc now owns 7,431 shares of the company’s stock valued at $647,000 after buying an additional 234 shares during the period. Principal Financial Group Inc. raised its holdings in Jackson Financial by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 417,984 shares of the company’s stock worth $36,398,000 after purchasing an additional 10,880 shares in the last quarter. Strategic Advisors LLC raised its holdings in Jackson Financial by 3.9% in the 4th quarter. Strategic Advisors LLC now owns 12,468 shares of the company’s stock worth $1,086,000 after purchasing an additional 468 shares in the last quarter. Blue Trust Inc. raised its holdings in Jackson Financial by 114.5% in the 4th quarter. Blue Trust Inc. now owns 798 shares of the company’s stock worth $69,000 after purchasing an additional 426 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in Jackson Financial in the 4th quarter worth $5,192,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insider Activity at Jackson Financial

In other news, Director Gregory T. Durant acquired 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $90.28 per share, with a total value of $135,420.00. Following the transaction, the director now owns 32,023 shares of the company’s stock, valued at $2,891,036.44. This trade represents a 4.91 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

JXN has been the subject of several research reports. Evercore ISI lowered shares of Jackson Financial from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Barclays increased their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Jackson Financial has a consensus rating of “Hold” and an average price target of $97.40.

Jackson Financial Stock Up 3.3 %

Shares of Jackson Financial stock opened at $91.66 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The company has a 50-day moving average of $90.74 and a 200 day moving average of $92.88. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 8.01 and a beta of 1.47. Jackson Financial Inc. has a 1 year low of $54.47 and a 1 year high of $115.22.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. As a group, sell-side analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.49%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, March 11th. Jackson Financial’s dividend payout ratio is 27.95%.

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.