Teacher Retirement System of Texas Lowers Stock Holdings in Jackson Financial Inc. $JXN

Teacher Retirement System of Texas reduced its position in Jackson Financial Inc. (NYSE:JXN) by 82.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,414 shares of the company’s stock after selling 152,071 shares during the quarter. Teacher Retirement System of Texas’ holdings in Jackson Financial were worth $3,281,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in JXN. Acadian Asset Management LLC grew its position in shares of Jackson Financial by 1.5% during the second quarter. Acadian Asset Management LLC now owns 1,359,477 shares of the company’s stock worth $120,685,000 after acquiring an additional 20,212 shares during the last quarter. JPMorgan Chase & Co. grew its position in Jackson Financial by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock worth $58,830,000 after purchasing an additional 143,091 shares during the last quarter. Donald Smith & CO. Inc. increased its stake in Jackson Financial by 2.0% in the second quarter. Donald Smith & CO. Inc. now owns 1,699,087 shares of the company’s stock valued at $150,862,000 after purchasing an additional 33,040 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Jackson Financial by 82.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,440 shares of the company’s stock valued at $751,000 after buying an additional 3,805 shares during the last quarter. Finally, Evergreen Wealth Management LLC acquired a new stake in shares of Jackson Financial during the second quarter worth about $737,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on JXN shares. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research note on Monday, December 29th. Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a research report on Monday, December 15th. Barclays reissued an “overweight” rating and set a $137.00 price target on shares of Jackson Financial in a report on Thursday, January 8th. Finally, Evercore ISI set a $118.00 target price on Jackson Financial and gave the stock an “in-line” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $113.00.

Jackson Financial Price Performance

Jackson Financial stock opened at $115.86 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $7.88 billion, a PE ratio of 16.03 and a beta of 1.44. The firm’s 50-day simple moving average is $106.86 and its 200 day simple moving average is $99.39. Jackson Financial Inc. has a 52 week low of $64.70 and a 52 week high of $118.18.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $1.06. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm earned $4.60 earnings per share. The company’s revenue for the quarter was down 33.2% on a year-over-year basis. On average, equities research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, December 4th. Jackson Financial’s dividend payout ratio (DPR) is currently 44.26%.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services holding company headquartered in Lansing, Michigan. The company operates primarily through its principal subsidiary, Jackson National Life Insurance Company, and specializes in designing and distributing retirement products. Jackson Financial has been publicly traded on the New York Stock Exchange under the ticker JXN since its initial public offering in May 2022.

The company’s core offerings include a broad range of fixed, variable and indexed annuity products aimed at helping individuals preserve and grow retirement assets.