Teacher Retirement System of Texas Reduces Stock Position in Jackson Financial Inc. (NYSE:JXN)

Teacher Retirement System of Texas trimmed its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 0.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 73,848 shares of the company’s stock after selling 670 shares during the period. Teacher Retirement System of Texas’ holdings in Jackson Financial were worth $6,431,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Jackson Financial during the fourth quarter worth approximately $26,000. World Investment Advisors LLC purchased a new stake in shares of Jackson Financial during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Jackson Financial in the 4th quarter valued at $44,000. Blue Trust Inc. boosted its holdings in shares of Jackson Financial by 114.5% in the 4th quarter. Blue Trust Inc. now owns 798 shares of the company’s stock valued at $69,000 after buying an additional 426 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Jackson Financial in the 4th quarter valued at $126,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays upped their price objective on shares of Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods upped their target price on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Jackson Financial has an average rating of “Hold” and an average price target of $97.40.

Insider Activity at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Jackson Financial Trading Up 1.2 %

Shares of Jackson Financial stock opened at $85.31 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $6.20 billion, a P/E ratio of 7.45 and a beta of 1.48. Jackson Financial Inc. has a 1 year low of $62.81 and a 1 year high of $115.22. The company’s fifty day moving average is $89.38 and its two-hundred day moving average is $92.73.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Tuesday, March 11th. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is 27.95%.

About Jackson Financial

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.