Louisiana State Employees Retirement System Has $2.97 Million Position in Jackson Financial Inc. $JXN

Louisiana State Employees Retirement System reduced its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 4.0% in the second quarter, HoldingsChannel.com reports. The fund owned 33,400 shares of the company’s stock after selling 1,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Jackson Financial were worth $2,966,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in JXN. NBC Securities Inc. acquired a new stake in shares of Jackson Financial in the 1st quarter valued at about $37,000. Park Avenue Securities LLC acquired a new stake in shares of Jackson Financial in the 1st quarter valued at about $239,000. Farther Finance Advisors LLC grew its stake in shares of Jackson Financial by 216.9% in the 1st quarter. Farther Finance Advisors LLC now owns 4,751 shares of the company’s stock valued at $401,000 after buying an additional 3,252 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Jackson Financial by 23.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,636 shares of the company’s stock valued at $137,000 after buying an additional 308 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its stake in shares of Jackson Financial by 1.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 14,096 shares of the company’s stock valued at $1,181,000 after buying an additional 166 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $99.75 on Friday. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $115.22. The stock’s 50 day moving average price is $97.11 and its 200-day moving average price is $87.68. The company has a market capitalization of $6.95 billion, a PE ratio of -1,662.22 and a beta of 1.45. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last announced its earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.26. Jackson Financial had a return on equity of 14.73% and a net margin of 1.73%.The firm had revenue of ($471.00) million for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $5.32 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, September 15th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, September 15th. Jackson Financial’s payout ratio is presently -5,333.33%.

Jackson Financial announced that its board has approved a share repurchase program on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 14.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group raised their target price on Jackson Financial from $88.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday. Morgan Stanley lifted their price target on Jackson Financial from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Tuesday. Zacks Research downgraded Jackson Financial from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Finally, Evercore ISI lifted their price target on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Jackson Financial has an average rating of “Hold” and an average price target of $109.20.

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.