Jackson Financial Inc. $JXN Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp grew its stake in Jackson Financial Inc. (NYSE:JXN) by 44.2% during the 2nd quarter, Holdings Channel reports. The fund owned 107,250 shares of the company’s stock after acquiring an additional 32,872 shares during the period. Texas Permanent School Fund Corp’s holdings in Jackson Financial were worth $9,523,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Jackson Financial in the 2nd quarter valued at about $102,131,000. Millennium Management LLC grew its holdings in shares of Jackson Financial by 296.7% during the first quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock worth $55,166,000 after buying an additional 492,492 shares in the last quarter. LSV Asset Management grew its holdings in shares of Jackson Financial by 28.3% during the second quarter. LSV Asset Management now owns 836,238 shares of the company’s stock worth $74,250,000 after buying an additional 184,440 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Jackson Financial by 144.4% in the first quarter. Cubist Systematic Strategies LLC now owns 253,504 shares of the company’s stock valued at $21,239,000 after buying an additional 149,799 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Jackson Financial by 27.5% during the second quarter. JPMorgan Chase & Co. now owns 662,569 shares of the company’s stock valued at $58,830,000 after buying an additional 143,091 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Trading Up 0.5%

Shares of JXN opened at $106.31 on Tuesday. Jackson Financial Inc. has a twelve month low of $64.70 and a twelve month high of $107.61. The firm has a market capitalization of $7.23 billion, a P/E ratio of 14.70 and a beta of 1.45. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.47. The stock’s fifty day simple moving average is $97.44 and its 200 day simple moving average is $93.71.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. The firm had revenue of ($1,162.00) million during the quarter. Jackson Financial had a return on equity of 15.73% and a net margin of 1.73%. On average, equities research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 14.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, December 4th. Jackson Financial’s dividend payout ratio is 44.26%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JXN. Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 8th. Evercore ISI lifted their price objective on Jackson Financial from $100.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, October 9th. Morgan Stanley set a $105.00 target price on Jackson Financial in a research report on Monday. Finally, Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $109.60.

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.