Maryland State Retirement & Pension System Sells 219 Shares of Jackson Financial Inc. (NYSE:JXN)

Maryland State Retirement & Pension System cut its stake in Jackson Financial Inc. (NYSE:JXN) by 0.9% in the first quarter, Holdings Channel reports. The institutional investor owned 25,496 shares of the company’s stock after selling 219 shares during the period. Maryland State Retirement & Pension System’s holdings in Jackson Financial were worth $1,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of JXN. Assetmark Inc. purchased a new position in shares of Jackson Financial during the 4th quarter worth about $2,270,000. Advisors Preferred LLC bought a new stake in shares of Jackson Financial during the 4th quarter worth approximately $1,680,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Jackson Financial in the third quarter worth $871,000. Goldman Sachs Group Inc. boosted its stake in shares of Jackson Financial by 6.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,738,688 shares of the company’s stock valued at $89,021,000 after purchasing an additional 111,875 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Jackson Financial in the fourth quarter worth about $621,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JXN has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Jackson Financial from $62.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, June 28th. Evercore ISI decreased their target price on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Morgan Stanley increased their price target on Jackson Financial from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Keefe, Bruyette & Woods cut shares of Jackson Financial from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a report on Tuesday, May 14th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.00.

Insider Transactions at Jackson Financial

In other news, COO Devkumar Dilip Ganguly sold 13,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.67, for a total transaction of $983,710.00. Following the sale, the chief operating officer now owns 93,405 shares in the company, valued at $7,067,956.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Don W. Cummings purchased 1,445 shares of the stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $72.70 per share, with a total value of $105,051.50. Following the transaction, the chief financial officer now owns 45,711 shares in the company, valued at approximately $3,323,189.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Devkumar Dilip Ganguly sold 13,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.67, for a total value of $983,710.00. Following the completion of the transaction, the chief operating officer now directly owns 93,405 shares in the company, valued at $7,067,956.35. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Jackson Financial Stock Down 1.7 %

JXN traded down $1.25 on Friday, hitting $74.09. The company had a trading volume of 47,278 shares, compared to its average volume of 751,446. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 1.99 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a fifty day moving average price of $73.92 and a 200-day moving average price of $62.50. Jackson Financial Inc. has a 12-month low of $29.28 and a 12-month high of $81.52.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $3.15 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts predict that Jackson Financial Inc. will post 16.98 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Thursday, June 6th. Jackson Financial’s payout ratio is presently 7.40%.

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.