Maryland State Retirement & Pension System Cuts Stock Position in Jackson Financial Inc. (NYSE:JXN)

Maryland State Retirement & Pension System trimmed its position in shares of Jackson Financial Inc. (NYSE:JXN) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,874 shares of the company’s stock after selling 534 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Jackson Financial were worth $2,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Jackson Financial by 7.1% in the fourth quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock valued at $155,000 after acquiring an additional 118 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Jackson Financial by 1.4% during the third quarter. Mutual of America Capital Management LLC now owns 11,316 shares of the company’s stock worth $1,032,000 after acquiring an additional 159 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Jackson Financial by 0.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,707 shares of the company’s stock valued at $4,416,000 after buying an additional 168 shares during the last quarter. Caprock Group LLC boosted its position in Jackson Financial by 4.3% in the fourth quarter. Caprock Group LLC now owns 4,218 shares of the company’s stock valued at $367,000 after buying an additional 173 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Jackson Financial by 7.2% in the fourth quarter. IFP Advisors Inc now owns 2,692 shares of the company’s stock valued at $234,000 after buying an additional 180 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Trading Up 0.2 %

Shares of JXN stock opened at $84.29 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $6.12 billion, a PE ratio of 7.36 and a beta of 1.48. Jackson Financial Inc. has a 1-year low of $62.81 and a 1-year high of $115.22. The business’s fifty day moving average price is $89.36 and its 200 day moving average price is $92.66.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.07). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. As a group, sell-side analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.80%. Jackson Financial’s dividend payout ratio is currently 27.95%.

Insider Activity

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. This trade represents a 7.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays upped their target price on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods increased their price objective on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Jackson Financial has a consensus rating of “Hold” and an average target price of $97.40.

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.