New York State Teachers Retirement System trimmed its position in shares of Jackson Financial Inc. (NYSE:JXN – Free Report) by 16.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 43,798 shares of the company’s stock after selling 8,701 shares during the quarter. New York State Teachers Retirement System’s holdings in Jackson Financial were worth $4,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of JXN. Allworth Financial LP grew its holdings in shares of Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock worth $26,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC grew its stake in shares of Jackson Financial by 79.9% during the 4th quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock valued at $34,000 after purchasing an additional 143 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of Jackson Financial during the 4th quarter valued at about $35,000. Advisory Services Network LLC bought a new position in shares of Jackson Financial in the 3rd quarter worth approximately $37,000. Finally, Employees Retirement System of Texas bought a new position in shares of Jackson Financial in the 3rd quarter worth approximately $38,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on JXN shares. Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings downgraded shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Finally, Barclays upped their price objective on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $116.40.
Jackson Financial Trading Down 0.7%
Shares of NYSE:JXN opened at $108.51 on Thursday. The stock has a 50 day moving average of $108.10 and a 200 day moving average of $109.66. The company has a market cap of $7.57 billion, a PE ratio of -17.76 and a beta of 1.32. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a 12-month low of $82.65 and a 12-month high of $123.61.
Jackson Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s dividend payout ratio is presently -58.92%.
About Jackson Financial
Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.
The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.
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