Teacher Retirement System of Texas Boosts Stake in Jackson Financial Inc. $JXN

Teacher Retirement System of Texas boosted its stake in Jackson Financial Inc. (NYSE:JXN) by 188.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 184,485 shares of the company’s stock after buying an additional 120,561 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.26% of Jackson Financial worth $16,380,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi lifted its stake in Jackson Financial by 90.1% in the 1st quarter. Amundi now owns 143,795 shares of the company’s stock valued at $12,047,000 after buying an additional 68,138 shares in the last quarter. GAMMA Investing LLC lifted its stake in Jackson Financial by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 2,108 shares of the company’s stock valued at $177,000 after buying an additional 330 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Jackson Financial by 13.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company’s stock valued at $388,000 after buying an additional 547 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Jackson Financial by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 429,789 shares of the company’s stock valued at $36,008,000 after buying an additional 11,805 shares in the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new stake in Jackson Financial in the 1st quarter valued at approximately $3,069,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

Shares of JXN stock opened at $98.68 on Wednesday. The company’s 50-day simple moving average is $98.64 and its 200-day simple moving average is $89.47. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of -1,644.39 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28. Jackson Financial Inc. has a one year low of $64.70 and a one year high of $115.22.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share for the quarter. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The company had revenue of ($1,162.00) million for the quarter. Equities analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Monday, September 15th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is currently -5,333.33%.

Jackson Financial declared that its board has initiated a stock buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 14.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on JXN shares. Zacks Research raised Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Barclays increased their price target on Jackson Financial from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Jackson Financial in a research note on Wednesday, October 8th. Finally, Evercore ISI increased their price target on Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $109.20.

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.