California State Teachers Retirement System Acquires 7,346,353 Shares of Jackson Financial Inc. $JXN

Key Points

• California State Teachers Retirement System increased its Jackson Financial stake by 9,102.2% in the second quarter, acquiring 7.35 million shares and ending with a 10.97% ownership position valued at approximately $760.5 million.
• Institutional investors own nearly 90% of Jackson Financial, while company insiders recently sold shares, including $653,450 worth by CEO Christopher Raub and $1.01 million worth by EVP Carrie Chelko.
• Jackson Financial exceeded quarterly earnings expectations, reporting $7.30 in EPS versus the $5.72 consensus and $2 billion in revenue. Analysts’ consensus rating is “Moderate Buy,” with a $133.80 average price target, and the company declared a $0.90 quarterly dividend.

California State Teachers Retirement System grew its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 9,102.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,427,063 shares of the company's stock after buying an additional 7,346,353 shares during the period. California State Teachers Retirement System owned 10.97% of Jackson Financial worth $760,457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in JXN. HB Wealth Management LLC lifted its position in Jackson Financial by 13.8% during the second quarter. HB Wealth Management LLC now owns 2,829 shares of the company's stock worth $290,000 after acquiring an additional 342 shares during the last quarter. Nilsine Partners LLC lifted its holdings in Jackson Financial by 9.7% during the 2nd quarter. Nilsine Partners LLC now owns 7,420 shares of the company's stock worth $760,000 after purchasing an additional 654 shares during the last quarter. Asset Allocation Strategies LLC lifted its holdings in Jackson Financial by 8.2% during the 2nd quarter. Asset Allocation Strategies LLC now owns 23,623 shares of the company's stock worth $2,419,000 after purchasing an additional 1,788 shares during the last quarter. William John Sempolinski bought a new stake in Jackson Financial in the 2nd quarter valued at $2,222,000. Finally, Prosperitas Financial LLC bought a new stake in Jackson Financial in the 2nd quarter valued at $214,000. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Jackson Financial

In other Jackson Financial news, CEO Christopher Raub sold 5,000 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the sale, the chief executive officer directly owned 42,160 shares in the company, valued at approximately $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Carrie Chelko sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total value of $1,006,800.00. Following the completion of the sale, the executive vice president directly owned 80,914 shares of the company's stock, valued at $10,861,895.36. The trade was a 8.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.40% of the company's stock.

Jackson Financial Trading Up 0.2%

JXN opened at $138.33 on Monday. The company's 50 day moving average is $128.12 and its 200-day moving average is $114.92. Jackson Financial Inc. has a 1-year low of $89.67 and a 1-year high of $140.90. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53. The company has a market cap of $9.37 billion, a P/E ratio of 194.84 and a beta of 1.30.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, topping analysts' consensus estimates of $5.72 by $1.58. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.60 annualized dividend and a dividend yield of 2.6%. Jackson Financial's dividend payout ratio (DPR) is 507.04%.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of analyst reports. Barclays increased their target price on shares of Jackson Financial from $139.00 to $149.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $130.00 to $140.00 and gave the company a "market perform" rating in a research note on Wednesday, August 5th. Weiss Ratings raised Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. Wall Street Zen raised Jackson Financial from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group upgraded Jackson Financial from a "hold" rating to a "buy" rating and raised their price objective for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Jackson Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.80.

Jackson Financial Profile

Jackson Financial Inc NYSE: JXN is a U.S.-based financial services company focused on providing retirement income solutions. Through its insurance subsidiaries, the company primarily develops and distributes annuity products designed to help individuals accumulate retirement savings and generate income during retirement.

Jackson's product portfolio includes variable annuities, fixed annuities and registered index-linked annuities. Its offerings are distributed through financial professionals and other intermediary channels, serving individuals and institutions seeking tax-deferred retirement accumulation, income planning and related financial solutions.

Headquartered in Lansing, Michigan, Jackson primarily serves customers in the United States through Jackson National Life Insurance Company and related entities, including Jackson National Life Insurance Company of New York.

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