State of Alaska Department of Revenue Decreases Stock Position in Jackson Financial Inc. (NYSE:JXN)

State of Alaska Department of Revenue lowered its position in Jackson Financial Inc. (NYSE:JXN) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,529 shares of the company’s stock after selling 1,859 shares during the period. State of Alaska Department of Revenue owned approximately 0.05% of Jackson Financial worth $2,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of JXN. NBC Securities Inc. purchased a new stake in shares of Jackson Financial in the 3rd quarter worth $28,000. Steward Partners Investment Advisory LLC grew its holdings in Jackson Financial by 4,347.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,023 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Jackson Financial by 291.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock worth $39,000 after purchasing an additional 763 shares in the last quarter. Money Concepts Capital Corp acquired a new position in shares of Jackson Financial during the fourth quarter worth $42,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Jackson Financial by 464.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,344 shares of the company’s stock valued at $49,000 after purchasing an additional 1,106 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on JXN shares. Morgan Stanley boosted their target price on Jackson Financial from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Friday, March 1st. Jefferies Financial Group restated a “hold” rating and set a $55.00 price objective on shares of Jackson Financial in a report on Tuesday, January 2nd. The Goldman Sachs Group increased their price objective on shares of Jackson Financial from $39.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods raised shares of Jackson Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $49.00 to $68.00 in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.50.

Insider Activity at Jackson Financial

In related news, Director Derek G. Kirkland purchased 3,500 shares of the business’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $55.67 per share, with a total value of $194,845.00. Following the transaction, the director now owns 37,726 shares of the company’s stock, valued at $2,100,206.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Jackson Financial Stock Down 2.2 %

Jackson Financial stock opened at $66.02 on Friday. The business’s 50-day simple moving average is $57.01 and its two-hundred day simple moving average is $48.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $5.11 billion, a PE ratio of 6.73 and a beta of 1.57. Jackson Financial Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $68.97.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, February 21st. The company reported $2.53 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 analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $5.66 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Jackson Financial Inc. will post 15.59 EPS for the current year.

Jackson Financial Increases Dividend

The firm also recently announced 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 represents a $2.80 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio (DPR) is 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.