VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 38,045 Jackson Financial Inc. $JXN

Key Points

• Virginia Retirement Systems purchased 38,045 shares of Jackson Financial in the second quarter, valued at approximately $3.9 million. Institutional investors collectively own about 89.96% of the company.
• Analysts have a consensus “Moderate Buy” rating on JXN, with an average price target of $133.80; Jefferies upgraded the stock to Buy, while several firms raised their targets.
• Jackson Financial reported quarterly EPS of $7.30, beating estimates of $5.72, and revenue of $2 billion. The company also announced a quarterly dividend of $0.90 per share, representing a 2.6% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Jackson Financial Inc. (NYSE:JXN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 38,045 shares of the company's stock, valued at approximately $3,895,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of Jackson Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JXN. Allworth Financial LP lifted its stake in Jackson Financial by 404.0% in the 3rd quarter. Allworth Financial LP now owns 252 shares of the company's stock worth $26,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC grew its stake in Jackson Financial by 79.9% during the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company's stock valued at $34,000 after acquiring an additional 143 shares in the last quarter. Signature Equity Partners LLC acquired a new position in shares of Jackson Financial in the 1st quarter valued at about $38,000. Advisory Services Network LLC purchased a new stake in shares of Jackson Financial in the third quarter worth approximately $37,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of Jackson Financial in the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Transactions at Jackson Financial

In other Jackson Financial news, CEO Christopher Raub sold 5,000 shares of the business's stock in a transaction dated Wednesday, August 12th. The stock was 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 owned 42,160 shares of the company's stock, valued at $5,509,890.40. The trade was a 10.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carrie Chelko sold 7,500 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the sale, the executive vice president owned 80,914 shares of the company's stock, valued at approximately $10,861,895.36. This trade represents a 8.48% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on JXN shares. Evercore set a $135.00 price objective on shares of Jackson Financial in a research report on Wednesday, August 5th. Jefferies Financial Group raised shares of Jackson Financial from a "hold" rating to a "buy" rating and lifted their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of Jackson Financial from $130.00 to $140.00 and gave the company a "market perform" rating in a report on Wednesday, August 5th. Barclays upped their price target on shares of Jackson Financial from $139.00 to $149.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $133.80.

Jackson Financial Price Performance

NYSE JXN opened at $138.37 on Thursday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $9.37 billion, a PE ratio of 194.89 and a beta of 1.30. Jackson Financial Inc. has a 12-month low of $89.67 and a 12-month high of $140.88. The company has a 50 day moving average price of $126.77 and a two-hundred day moving average price of $114.56.

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

Jackson Financial Announces Dividend

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

Jackson Financial Company Profile

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.