Louisiana State Employees Retirement System Takes $1.81 Million Position in Jackson Financial Inc. (NYSE:JXN)

Louisiana State Employees Retirement System purchased a new stake in shares of Jackson Financial Inc. (NYSE:JXN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 35,400 shares of the company’s stock, valued at approximately $1,812,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Friedenthal Financial bought a new stake in Jackson Financial in the fourth quarter worth $718,000. Kendall Capital Management boosted its holdings in Jackson Financial by 0.7% in the fourth quarter. Kendall Capital Management now owns 51,310 shares of the company’s stock worth $2,627,000 after purchasing an additional 360 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Jackson Financial in the fourth quarter worth $497,000. DekaBank Deutsche Girozentrale boosted its holdings in Jackson Financial by 148.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 97,616 shares of the company’s stock worth $4,982,000 after purchasing an additional 58,350 shares in the last quarter. Finally, Advisors Preferred LLC bought a new stake in Jackson Financial in the fourth quarter worth $1,680,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JXN. Evercore ISI upped their price objective on shares of Jackson Financial from $55.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of 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 reissued a “hold” rating and set a $55.00 target price on shares of Jackson Financial in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.80.

Insider Activity

In related news, Director Derek G. Kirkland acquired 3,500 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the transaction, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by company insiders.

Jackson Financial Stock Up 1.3 %

Shares of JXN opened at $64.37 on Friday. The company has a 50-day simple moving average of $59.66 and a 200-day simple moving average of $50.70. The firm has a market capitalization of $4.98 billion, a P/E ratio of 6.56 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 announced its quarterly earnings data on Wednesday, February 21st. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.40 billion. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.66 earnings per share. On average, equities research analysts expect that Jackson Financial Inc. will post 15.95 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 12th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.35%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is currently 28.54%.

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.