Maryland State Retirement & Pension System Sells 3,302 Shares of Jackson Financial Inc. (NYSE:JXN)

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Jackson Financial Inc. by 13.3%, selling 3,302 shares and bringing its total to 21,572 shares valued at approximately $1.8 million.
• Institutional investors hold 89.96% of Jackson Financial's stock, indicating significant institutional interest in the company.
• Jackson Financial declared a quarterly dividend of $0.80 per share, with a payout ratio of -5,333.33%, reflecting its financial strategies amidst volatile earnings.

Maryland State Retirement & Pension System decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,572 shares of the company's stock after selling 3,302 shares during the quarter. Maryland State Retirement & Pension System's holdings in Jackson Financial were worth $1,807,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of JXN. Assenagon Asset Management S.A. lifted its stake in Jackson Financial by 385.3% in the first quarter. Assenagon Asset Management S.A. now owns 874,771 shares of the company's stock valued at $73,288,000 after buying an additional 694,518 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Jackson Financial by 13.4% in the fourth quarter. First Trust Advisors LP now owns 4,134,545 shares of the company's stock worth $360,036,000 after purchasing an additional 487,803 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Jackson Financial by 286.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company's stock worth $49,367,000 after purchasing an additional 420,245 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Jackson Financial in the fourth quarter worth $27,193,000. Finally, GAMMA Investing LLC lifted its position in shares of Jackson Financial by 9,833.0% in the first quarter. GAMMA Investing LLC now owns 176,608 shares of the company's stock worth $14,796,000 after purchasing an additional 174,830 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Jackson Financial Stock Performance

Shares of JXN traded up $1.77 during trading hours on Wednesday, hitting $96.06. The company had a trading volume of 32,570 shares, compared to its average volume of 767,957. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of -1,592.13 and a beta of 1.46. The business has a fifty day moving average of $86.90 and a 200-day moving average of $84.76. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.26. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The company had revenue of ($471.00) million for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm earned $5.32 earnings per share. The company's revenue was down 3.3% on a year-over-year basis. Equities analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, September 15th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.3%. Jackson Financial's dividend payout ratio is -5,333.33%.

Wall Street Analyst Weigh In

JXN has been the topic of a number of research reports. Barclays boosted their price objective on shares of Jackson Financial from $108.00 to $114.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Morgan Stanley set a $91.00 price target on shares of Jackson Financial and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods upped their price target on shares of Jackson Financial from $102.00 to $105.00 and gave the stock a "market perform" rating in a research report on Monday. Finally, Jefferies Financial Group upped their price target on shares of Jackson Financial from $88.00 to $95.00 and gave the stock a "hold" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $100.00.

About Jackson Financial

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.