Arizona State Retirement System Sells 529 Shares of Jackson Financial Inc. (NYSE:JXN)

Arizona State Retirement System lessened its holdings in Jackson Financial Inc. (NYSE:JXN) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,609 shares of the company’s stock after selling 529 shares during the quarter. Arizona State Retirement System’s holdings in Jackson Financial were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Jackson Financial by 16.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after purchasing an additional 1,518,547 shares during the period. BlackRock Inc. grew its stake in Jackson Financial by 3.7% in the 2nd quarter. BlackRock Inc. now owns 6,480,689 shares of the company’s stock valued at $198,374,000 after purchasing an additional 231,800 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Jackson Financial by 1.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,157,287 shares of the company’s stock valued at $155,525,000 after purchasing an additional 52,814 shares during the period. Hsbc Holdings PLC grew its stake in Jackson Financial by 45,699.9% in the 3rd quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock valued at $124,043,000 after purchasing an additional 3,234,184 shares during the period. Finally, State Street Corp grew its stake in Jackson Financial by 10.8% in the 2nd quarter. State Street Corp now owns 2,360,191 shares of the company’s stock valued at $72,245,000 after purchasing an additional 230,400 shares during the period. Institutional investors own 89.96% of the company’s stock.

Insider Buying and Selling

In other Jackson Financial news, Director Derek G. Kirkland purchased 3,500 shares of the stock in a transaction on Monday, March 4th. The shares were purchased at an average price of $55.67 per share, with a total value of $194,845.00. Following the acquisition, the director now directly owns 37,726 shares in the company, valued at approximately $2,100,206.42. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on JXN. Jefferies Financial Group reiterated a “hold” rating and set a $55.00 price target on shares of Jackson Financial in a research note on Tuesday, January 2nd. Evercore ISI increased their price target on Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group increased their price target on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley increased their price target on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and an average target price of $61.80.

Jackson Financial Stock Performance

Shares of JXN opened at $64.16 on Tuesday. The stock’s 50-day simple moving average is $59.11 and its 200 day simple moving average is $50.43. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 6.54 and a beta of 1.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. Jackson Financial Inc. has a 52-week low of $26.70 and a 52-week high of $68.97.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $5.66 earnings per share. Research analysts forecast that Jackson Financial Inc. will post 15.89 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 12th were issued a dividend of $0.70 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.36%. Jackson Financial’s dividend payout ratio is 28.54%.

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.