California Public Employees Retirement System Grows Holdings in Jackson Financial Inc. (NYSE:JXN)

Posted by Defense World Staff on May 18th, 2023

California Public Employees Retirement System boosted its holdings in Jackson Financial Inc. (NYSE:JXN – Get Rating) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,631 shares of the company’s stock after purchasing an additional 3,535 shares during the quarter. California Public Employees Retirement System owned about 0.22% of Jackson Financial worth $6,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Jackson Financial by 0.7% in the 1st quarter. JPMorgan Chase & Co. now owns 92,635 shares of the company’s stock valued at $4,098,000 after buying an additional 662 shares during the period. Raymond James & Associates increased its stake in Jackson Financial by 19.5% in the 1st quarter. Raymond James & Associates now owns 34,968 shares of the company’s stock valued at $1,547,000 after buying an additional 5,699 shares during the period. Sei Investments Co. acquired a new position in Jackson Financial in the 1st quarter valued at $346,000. Canada Pension Plan Investment Board acquired a new position in Jackson Financial in the 1st quarter valued at $402,000. Finally, Penserra Capital Management LLC acquired a new position in Jackson Financial in the 1st quarter valued at $108,000. Hedge funds and other institutional investors own 82.40% of the company’s stock.

Jackson Financial Stock Up 5.8 %

Shares of NYSE JXN opened at $30.12 on Thursday. Jackson Financial Inc. has a 12-month low of $23.56 and a 12-month high of $49.60. The company has a market capitalization of $2.48 billion, a PE ratio of 1.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.33. The firm’s 50-day moving average is $35.38 and its two-hundred day moving average is $37.89.

Jackson Financial (NYSE:JXN – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $3.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.93 by ($0.78). Jackson Financial had a net margin of 42.47% and a return on equity of 14.28%. The business had revenue of ($749.00) million during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the company earned $3.94 EPS. Equities analysts anticipate that Jackson Financial Inc. will post 15.88 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 8.23%. The ex-dividend date is Wednesday, May 31st. Jackson Financial’s dividend payout ratio (DPR) is presently 10.88%.

Analyst Ratings Changes

JXN has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Jackson Financial from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 5th. Morgan Stanley lowered their price target on shares of Jackson Financial from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 12th. Finally, Jefferies Financial Group upped their price target on shares of Jackson Financial from $46.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st.

Insider Buying and Selling at Jackson Financial

In other news, COO Devkumar Dilip Ganguly sold 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $36.57, for a total value of $493,695.00. Following the completion of the transaction, the chief operating officer now owns 124,412 shares of the company’s stock, valued at $4,549,746.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Don W. Cummings sold 9,877 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $37.20, for a total value of $367,424.40. Following the completion of the transaction, the chief accounting officer now owns 25,925 shares of the company’s stock, valued at $964,410. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Devkumar Dilip Ganguly sold 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $36.57, for a total transaction of $493,695.00. Following the completion of the transaction, the chief operating officer now directly owns 124,412 shares of the company’s stock, valued at approximately $4,549,746.84. The disclosure for this sale can be found here. Insiders have sold 24,648 shares of company stock valued at $907,829 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Jackson Financial Company Profile

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Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.