Maryland State Retirement & Pension System Has $1.76 Million Position in Jackson Financial Inc. (NYSE:JXN)

Maryland State Retirement & Pension System decreased its position in shares of Jackson Financial Inc. (NYSE:JXN) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,665 shares of the company’s stock after selling 1,831 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Jackson Financial were worth $1,757,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after purchasing an additional 154 shares during the period. International Assets Investment Management LLC boosted its stake in Jackson Financial by 2.0% in the 2nd quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock worth $739,000 after purchasing an additional 199 shares during the period. Hexagon Capital Partners LLC increased its holdings in Jackson Financial by 18.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock worth $101,000 after purchasing an additional 235 shares in the last quarter. Asset Allocation Strategies LLC raised its stake in shares of Jackson Financial by 1.4% in the 4th quarter. Asset Allocation Strategies LLC now owns 17,310 shares of the company’s stock valued at $886,000 after purchasing an additional 242 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Jackson Financial by 18.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,640 shares of the company’s stock worth $84,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Buying and Selling

In other news, CFO Don W. Cummings bought 1,445 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the chief financial officer now owns 45,711 shares of the company’s stock, valued at $3,323,189.70. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Jackson Financial Stock Performance

Shares of JXN traded up $2.72 during mid-day trading on Friday, reaching $89.97. The company’s stock had a trading volume of 673,184 shares, compared to its average volume of 755,673. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.42. The stock has a market cap of $6.86 billion, a P/E ratio of 2.38 and a beta of 1.51. Jackson Financial Inc. has a 1-year low of $35.27 and a 1-year high of $90.10. The business has a 50-day simple moving average of $81.12 and a two-hundred day simple moving average of $71.64.

Jackson Financial (NYSE:JXN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating the consensus estimate of $4.32 by $1.00. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.71 billion. Jackson Financial’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.34 earnings per share. As a group, equities research analysts anticipate that Jackson Financial Inc. will post 17.33 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, September 5th. Jackson Financial’s payout ratio is 7.40%.

Analyst Upgrades and Downgrades

Several research firms have commented on JXN. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Morgan Stanley lifted their price target on shares of Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Evercore ISI decreased their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a report on Wednesday, June 26th. Finally, Jefferies Financial Group upped their target price on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.20.

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.