New York State Common Retirement Fund Reduces Stock Position in Jackson Financial Inc. (NYSE:JXN)

New York State Common Retirement Fund lessened its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 43,552 shares of the company’s stock after selling 3,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Jackson Financial were worth $3,793,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd boosted its holdings in shares of Jackson Financial by 300.0% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company’s stock valued at $1,460,000 after acquiring an additional 12,000 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Jackson Financial during the 3rd quarter valued at about $897,000. Assetmark Inc. boosted its holdings in shares of Jackson Financial by 7.9% during the 3rd quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock valued at $8,360,000 after acquiring an additional 6,724 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Jackson Financial during the 3rd quarter valued at about $31,000. Finally, Centaurus Financial Inc. boosted its holdings in shares of Jackson Financial by 135.1% during the 3rd quarter. Centaurus Financial Inc. now owns 10,169 shares of the company’s stock valued at $928,000 after acquiring an additional 5,844 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory T. Durant bought 1,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the purchase, the director now owns 32,023 shares in the company, valued at approximately $2,891,036.44. The trade was a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Friday. Barclays raised their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Evercore ISI downgraded shares of Jackson Financial from an “in-line” rating to an “underperform” rating and raised their price objective for the stock from $74.00 to $95.00 in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $97.40.

Jackson Financial Stock Performance

JXN opened at $91.66 on Friday. Jackson Financial Inc. has a 12-month low of $54.47 and a 12-month high of $115.22. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 8.01 and a beta of 1.47. The company’s 50 day moving average is $90.74 and its 200 day moving average is $92.88. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. On average, equities research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.80 per share. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.49%. Jackson Financial’s dividend payout ratio (DPR) is presently 27.95%.

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.