Jackson Financial Inc. $JXN Shares Sold by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System cut its Jackson Financial stake by 10.1%, selling 8,173 shares and retaining 72,537 shares worth approximately $7.4 million. Institutional investors collectively own 89.96% of the company.
• Jackson Financial reported quarterly EPS of $7.30, exceeding estimates of $5.72, while revenue reached $2 billion versus the $1.91 billion consensus. The company also declared a quarterly dividend of $0.90 per share, representing a 2.6% yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $133.80 price target, although CEO Christopher Raub and EVP Carrie Chelko recently sold shares.

California State Teachers Retirement System reduced its stake in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 10.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,537 shares of the company's stock after selling 8,173 shares during the quarter. California State Teachers Retirement System owned 0.11% of Jackson Financial worth $7,427,063 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. CIBC Asset Management Inc raised its position in shares of Jackson Financial by 1.7% during the 4th quarter. CIBC Asset Management Inc now owns 6,946 shares of the company's stock worth $741,000 after buying an additional 113 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Jackson Financial by 5.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,405 shares of the company's stock valued at $254,000 after purchasing an additional 126 shares in the last quarter. Root Financial Partners LLC lifted its stake in Jackson Financial by 46.4% in the first quarter. Root Financial Partners LLC now owns 401 shares of the company's stock valued at $42,000 after acquiring an additional 127 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Jackson Financial by 7.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,906 shares of the company's stock worth $201,000 after buying an additional 132 shares in the last quarter. Finally, Rothschild Investment LLC grew its holdings in Jackson Financial by 79.9% during the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company's stock worth $34,000 after acquiring an additional 143 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Down 0.4%

Shares of Jackson Financial stock traded down $0.62 on Tuesday, reaching $138.16. 320,870 shares of the company were exchanged, compared to its average volume of 608,128. Jackson Financial Inc. has a one year low of $89.67 and a one year high of $140.90. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 194.54 and a beta of 1.30. The company has a 50-day moving average of $128.71 and a 200 day moving average of $115.13. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53.

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

Jackson Financial Announces Dividend

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

Insider Buying and Selling at Jackson Financial

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JXN. Evercore set a $135.00 price objective on shares of Jackson Financial in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $130.00 to $140.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Jackson Financial from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Jefferies Financial Group raised shares of Jackson Financial from a "hold" rating to a "buy" rating and raised their target price for the company from $120.00 to $140.00 in a report on Friday, July 10th. Finally, Barclays raised their price target on Jackson Financial from $139.00 to $149.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock 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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