California State Teachers Retirement System Buys 14,777 Shares of Jackson Financial Inc. $JXN

Key Points

• California State Teachers Retirement System increased its Jackson Financial stake by 22.4% in the first quarter, purchasing 14,777 additional shares for a total holding valued at approximately $8.5 million. Institutional investors collectively own nearly 90% of the company.
• Jackson Financial reported strong quarterly results, with adjusted EPS of $7.30 beating estimates of $5.72 and revenue of roughly $2.0 billion surpassing expectations. Retail annuity sales also rose 34% year over year to $5.9 billion.
• The company declared a quarterly dividend of $0.90 per share, equivalent to $3.60 annually and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $128.40.

California State Teachers Retirement System increased its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 22.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,710 shares of the company's stock after purchasing an additional 14,777 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Jackson Financial worth $8,533,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company's stock valued at $26,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company's stock worth $34,000 after buying an additional 143 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of Jackson Financial during the fourth quarter worth about $35,000. Advisory Services Network LLC acquired a new stake in Jackson Financial in the 3rd quarter valued at approximately $37,000. Finally, Signature Equity Partners LLC bought a new stake in Jackson Financial in the 1st quarter valued at approximately $38,000. Institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Performance

Shares of JXN opened at $134.13 on Wednesday. The firm has a 50-day moving average of $112.52 and a 200-day moving average of $111.23. Jackson Financial Inc. has a one year low of $84.41 and a one year high of $137.99. The company has a market cap of $9.35 billion, a PE ratio of -21.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $1.58. Jackson Financial had a net margin of 1.59% and a return on equity of 19.04%. The company had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.91 billion.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 annualized dividend and a yield of 2.7%. Jackson Financial's dividend payout ratio is currently -58.92%.

Jackson Financial News Roundup

Here are the key news stories impacting Jackson Financial this week:

• Positive Sentiment: Q2 earnings significantly exceeded expectations. Adjusted operating earnings were $7.30 per diluted share, well above the $5.72 consensus estimate. Net income attributable to common shareholders rose to $644 million, or $9.16 per share, from $168 million, or $2.34 per share, a year earlier. Revenue was approximately $2.0 billion versus a $1.91 billion estimate. Jackson Financial Q2 Net Income Rises to $644 Million
• Positive Sentiment: Annuity sales showed strong momentum. Retail annuity sales increased 34% year over year to $5.9 billion, including a record $2.3 billion in registered index-linked annuity sales. Variable annuity sales totaled $2.7 billion, indicating continued demand for Jackson’s retirement products. Jackson Financial Inc. Earnings Call Signals Strong Momentum
• Positive Sentiment: Capital strength and shareholder returns remain supportive. Jackson National Life Insurance Company reported $5.8 billion of adjusted capital and an estimated 538% risk-based capital ratio. Jackson returned $290 million to shareholders during the quarter through repurchases and dividends, while also declaring a quarterly dividend of $0.90 per share, representing a 2.7% indicated yield. Jackson Financial: Blowout Q2 Supports Further Upside
• Neutral Sentiment: Leadership changes introduce a transition factor. Management changes may lead investors to monitor strategic continuity and execution, although the announcement was accompanied by otherwise strong quarterly operating results. Why Did Jackson Financial Announce Leadership Changes?

Wall Street Analyst Weigh In

A number of research firms have weighed in on JXN. Weiss Ratings downgraded Jackson Financial from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Jackson Financial from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Jefferies Financial Group raised shares of Jackson Financial from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. 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 report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Jackson Financial from $125.00 to $130.00 and gave the company a "market perform" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Jackson Financial presently has a consensus rating of "Moderate Buy" and an average target price of $128.40.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company's core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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