State of New Jersey Common Pension Fund D Lowers Position in Jackson Financial Inc. (NYSE:JXN)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 19.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,986 shares of the company's stock after selling 12,761 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Jackson Financial worth $2,713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Trust Co. NA raised its position in Jackson Financial by 10.2% in the fourth quarter. Private Trust Co. NA now owns 3,156 shares of the company's stock valued at $162,000 after purchasing an additional 292 shares during the last quarter. Kendall Capital Management raised its position in Jackson Financial by 0.7% in the fourth quarter. Kendall Capital Management now owns 51,310 shares of the company's stock valued at $2,627,000 after purchasing an additional 360 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Jackson Financial by 5.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 9,699 shares of the company's stock valued at $497,000 after purchasing an additional 462 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Jackson Financial by 1.0% during the third quarter. Public Employees Retirement System of Ohio now owns 52,212 shares of the company's stock worth $1,996,000 after acquiring an additional 527 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Jackson Financial by 2.3% during the third quarter. State Board of Administration of Florida Retirement System now owns 23,660 shares of the company's stock worth $904,000 after acquiring an additional 540 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Jackson Financial

In other news, Director Derek G. Kirkland acquired 3,500 shares of Jackson Financial stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the purchase, the director now owns 37,726 shares of the company's stock, valued at approximately $2,100,206.42. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company's stock.

Jackson Financial Trading Up 1.1 %

NYSE JXN traded up $0.77 during trading hours on Wednesday, hitting $69.09. 643,489 shares of the company's stock were exchanged, compared to its average volume of 809,201. The stock has a 50-day simple moving average of $62.97 and a 200 day simple moving average of $52.83. Jackson Financial Inc. has a 1-year low of $26.70 and a 1-year high of $70.97. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 7.04 and a beta of 1.57. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41.

Jackson Financial (NYSE:JXN - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.00). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company earned $5.66 earnings per share. Jackson Financial's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Jackson Financial Inc. will post 15.95 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Monday, March 11th. This is a boost from Jackson Financial's previous quarterly dividend of $0.62. Jackson Financial's dividend payout ratio (DPR) is 28.54%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JXN shares. Evercore ISI raised their price objective on Jackson Financial from $55.00 to $62.00 and gave the stock an "in-line" rating in a research report on Thursday, April 11th. The Goldman Sachs Group raised their price objective on Jackson Financial from $39.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 9th. Jefferies Financial Group restated a "hold" rating and set a $55.00 price objective on shares of Jackson Financial in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods raised their price objective on Jackson Financial from $68.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley raised their price objective on Jackson Financial from $52.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $61.80.

Jackson Financial 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.