Jackson Financial Inc. (NYSE:JXN) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,715 shares of the company’s stock after selling 1,137 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Jackson Financial were worth $1,317,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC boosted its holdings in shares of Jackson Financial by 45,699.9% in the 3rd quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock valued at $124,043,000 after purchasing an additional 3,234,184 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Jackson Financial by 16.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after purchasing an additional 1,518,547 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Jackson Financial by 36.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,979,189 shares of the company’s stock worth $101,334,000 after purchasing an additional 528,976 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Jackson Financial in the third quarter valued at approximately $19,485,000. Finally, International Assets Investment Management LLC acquired a new position in Jackson Financial during the fourth quarter valued at approximately $25,459,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Jackson Financial

In related news, Director Derek G. Kirkland acquired 3,500 shares of Jackson Financial stock in a transaction on Monday, March 4th. The shares were purchased at an average cost of $55.67 per share, for a total transaction of $194,845.00. Following the purchase, the director now directly owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

JXN has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley increased their price target on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Evercore ISI boosted their price objective on Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Jackson Financial currently has an average rating of “Hold” and an average target price of $61.80.

Jackson Financial Price Performance

Shares of JXN stock opened at $73.41 on Thursday. Jackson Financial Inc. has a twelve month low of $26.70 and a twelve month high of $73.97. The company has a market capitalization of $5.68 billion, a PE ratio of 7.48 and a beta of 1.54. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $64.87 and a 200-day simple moving average of $53.94.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 earnings per share for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm posted $5.66 earnings per share. Jackson Financial’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Jackson Financial Inc. will post 15.95 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. This represents a $2.80 annualized dividend and a yield of 3.81%. Jackson Financial’s payout ratio is currently 28.54%.

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.