Jackson Financial Inc. (NYSE:JXN) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 73.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 68,827 shares of the company’s stock after buying an additional 29,043 shares during the period. Illinois Municipal Retirement Fund owned about 0.09% of Jackson Financial worth $5,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Gordian Capital Singapore Pte Ltd raised its position in Jackson Financial by 300.0% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 16,000 shares of the company’s stock valued at $1,460,000 after acquiring an additional 12,000 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Jackson Financial during the 3rd quarter valued at approximately $897,000. Assetmark Inc. increased its holdings in shares of Jackson Financial by 7.9% during the 3rd quarter. Assetmark Inc. now owns 91,641 shares of the company’s stock valued at $8,360,000 after purchasing an additional 6,724 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $31,000. Finally, Centaurus Financial Inc. boosted its holdings in Jackson Financial by 135.1% during the third quarter. Centaurus Financial Inc. now owns 10,169 shares of the company’s stock worth $928,000 after buying an additional 5,844 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Transactions at Jackson Financial

In other news, Director Gregory T. Durant acquired 1,500 shares of Jackson Financial stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $90.28 per share, with a total value of $135,420.00. Following the purchase, the director now owns 32,023 shares in the company, valued at $2,891,036.44. This trade represents a 4.91 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $87.03 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $6.43 billion, a PE ratio of 7.60 and a beta of 1.47. Jackson Financial Inc. has a one year low of $51.70 and a one year high of $115.22. The firm has a fifty day moving average of $90.65 and a 200 day moving average of $92.95.

Jackson Financial (NYSE:JXN) last released its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. As a group, research analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio (DPR) is 27.95%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JXN. Evercore ISI cut shares of Jackson Financial from an “in-line” rating to an “underperform” rating and lifted their price objective for the company from $74.00 to $95.00 in a report on Thursday, November 14th. Barclays lifted their price target on Jackson Financial from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.80.

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.