Vestcor Inc Raises Stock Holdings in Jackson Financial Inc. (NYSE:JXN)

Key Points

• Vestcor Inc increased its holdings in Jackson Financial Inc. by 21.1% during the first quarter, now holding 26,158 shares valued at approximately $2.19 million.
• Jackson Financial's quarterly earnings surpassed expectations, reporting $5.10 EPS against an estimated $4.93, along with revenue of $3.75 billion compared to the projected $1.80 billion.
• The company declared a quarterly dividend of $0.80, yielding an annualized 3.7%, although its dividend payout ratio sits at a high 310.68%.

Vestcor Inc raised its position in Jackson Financial Inc. (NYSE:JXN - Free Report) by 21.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,158 shares of the company's stock after buying an additional 4,555 shares during the quarter. Vestcor Inc's holdings in Jackson Financial were worth $2,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JXN. Quarry LP purchased a new stake in Jackson Financial in the fourth quarter valued at approximately $28,000. NBC Securities Inc. acquired a new stake in Jackson Financial during the 1st quarter worth approximately $37,000. Versant Capital Management Inc grew its stake in shares of Jackson Financial by 161.9% in the 1st quarter. Versant Capital Management Inc now owns 550 shares of the company's stock valued at $46,000 after purchasing an additional 340 shares during the last quarter. HWG Holdings LP purchased a new position in shares of Jackson Financial in the 1st quarter valued at approximately $72,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Jackson Financial in the 4th quarter valued at approximately $79,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Up 1.8%

JXN opened at $87.53 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50 day simple moving average of $85.71 and a 200-day simple moving average of $85.02. The stock has a market capitalization of $6.25 billion, a P/E ratio of 84.98 and a beta of 1.47. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.93 by $0.17. The business had revenue of $3.75 billion during the quarter, compared to analysts' expectations of $1.80 billion. Jackson Financial had a return on equity of 15.46% and a net margin of 1.73%. The company's quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the firm earned $4.23 EPS. On average, equities analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, June 12th. Jackson Financial's dividend payout ratio (DPR) is currently 310.68%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JXN. Barclays lifted their target price on Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Morgan Stanley set a $91.00 target price on Jackson Financial and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Keefe, Bruyette & Woods lifted their target price on Jackson Financial from $100.00 to $102.00 and gave the company a "market perform" rating in a research note on Wednesday, July 9th.

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.

Want to see what other hedge funds are holding JXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jackson Financial Inc. (NYSE:JXN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.