Jackson Financial Inc. (NYSE:JXN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in Jackson Financial Inc. (NYSE:JXN) by 47.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,021 shares of the company’s stock after selling 24,965 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Jackson Financial were worth $2,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. acquired a new stake in Jackson Financial during the second quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in Jackson Financial by 400.0% during the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after acquiring an additional 316 shares during the last quarter. GAMMA Investing LLC increased its stake in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Jackson Financial during the fourth quarter worth about $57,000. Finally, Valued Wealth Advisors LLC acquired a new stake in Jackson Financial during the first quarter worth about $66,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays assumed coverage on Jackson Financial in a research note on Wednesday, September 4th. They set an “overweight” rating and a $109.00 price target for the company. Jefferies Financial Group upped their price target on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Morgan Stanley upped their target price on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Evercore ISI decreased their target price on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods upped their target price on 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.00.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $90.27 on Friday. Jackson Financial Inc. has a 1-year low of $35.27 and a 1-year high of $92.25. The business has a 50-day moving average of $84.13 and a 200-day moving average of $74.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 2.38 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.34 EPS. On average, equities analysts anticipate that Jackson Financial Inc. will post 18.49 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, September 5th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio is currently 7.40%.

Jackson Financial declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

About Jackson Financial

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.