Maryland State Retirement & Pension System Sells 1,137 Shares of Jackson Financial Inc. (NYSE:JXN)

Maryland State Retirement & Pension System lessened its stake in Jackson Financial Inc. (NYSE:JXN) by 4.2% in the fourth quarter, HoldingsChannel reports. The firm owned 25,715 shares of the company’s stock after selling 1,137 shares during the period. Maryland State Retirement & Pension System’s holdings in Jackson Financial were worth $1,317,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new position in shares of Jackson Financial during the 4th quarter worth about $1,680,000. Teachers Retirement System of The State of Kentucky acquired a new position in Jackson Financial during the third quarter valued at approximately $871,000. Federated Hermes Inc. increased its stake in Jackson Financial by 58.8% in the fourth quarter. Federated Hermes Inc. now owns 521,266 shares of the company’s stock valued at $26,689,000 after purchasing an additional 192,995 shares in the last quarter. Vanguard Group Inc. raised its holdings in Jackson Financial by 16.1% in the third quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock worth $417,868,000 after purchasing an additional 1,518,547 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Jackson Financial by 148.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 97,616 shares of the company’s stock valued at $4,982,000 after buying an additional 58,350 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Evercore ISI raised 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. Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Morgan Stanley increased their target price on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.80.

Insiders Place Their Bets

In related news, Director Derek G. Kirkland bought 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares in the company, valued at $2,100,206.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Jackson Financial Stock Up 0.7 %

JXN stock opened at $73.41 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $5.68 billion, a P/E ratio of 7.48 and a beta of 1.54. Jackson Financial Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $73.97. The business has a 50-day moving average of $64.87 and a 200-day moving average of $53.94.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business posted $5.66 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.81%. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is 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.