Teachers Retirement System of The State of Kentucky Makes New Investment in Jackson Financial Inc. (NYSE:JXN)

Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Jackson Financial Inc. (NYSE:JXNFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 22,800 shares of the company’s stock, valued at approximately $871,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Jackson Financial by 0.7% during the first quarter. JPMorgan Chase & Co. now owns 92,635 shares of the company’s stock worth $4,098,000 after purchasing an additional 662 shares in the last quarter. Raymond James & Associates boosted its stake in Jackson Financial by 19.5% during the 1st quarter. Raymond James & Associates now owns 34,968 shares of the company’s stock worth $1,547,000 after purchasing an additional 5,699 shares during the period. Sei Investments Co. purchased a new position in Jackson Financial during the 1st quarter worth $346,000. Canada Pension Plan Investment Board acquired a new position in Jackson Financial in the first quarter valued at $402,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Jackson Financial in the first quarter valued at about $108,000. 79.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JXN has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods upgraded Jackson Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $49.00 to $68.00 in a research report on Wednesday, February 28th. Morgan Stanley increased their price objective on shares of Jackson Financial from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Finally, Jefferies Financial Group restated a “hold” rating and set a $55.00 target price on shares of Jackson Financial in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Jackson Financial currently has a consensus rating of “Hold” and an average target price of $55.50.

Read Our Latest Stock Analysis on Jackson Financial

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland acquired 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $55.67 per share, with a total value of $194,845.00. Following the completion of the transaction, the director now directly owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Jackson Financial Stock Up 5.6 %

Shares of NYSE:JXN opened at $65.61 on Thursday. The stock’s 50-day moving average price is $53.48 and its two-hundred day moving average price is $46.94. 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 Inc. has a 12-month low of $26.70 and a 12-month high of $65.92. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 6.69 and a beta of 1.54.

Jackson Financial (NYSE:JXNGet Free Report) last announced its quarterly 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 business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.40 billion. Jackson Financial’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.66 EPS. On average, research analysts forecast that Jackson Financial Inc. will post 15.59 EPS for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Monday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is currently 28.54%.

About Jackson Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Jackson Financial (NYSE:JXN)

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