Maryland State Retirement & Pension System Trims Holdings in Jackson Financial Inc. $JXN

Maryland State Retirement & Pension System trimmed its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 52.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,013 shares of the company’s stock after selling 10,982 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Jackson Financial were worth $1,014,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new stake in Jackson Financial during the 2nd quarter valued at about $30,000. Salomon & Ludwin LLC purchased a new position in shares of Jackson Financial during the third quarter worth approximately $34,000. Bayforest Capital Ltd increased its position in shares of Jackson Financial by 541.2% during the third quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock worth $33,000 after acquiring an additional 276 shares during the period. Pinnacle Bancorp Inc. bought a new stake in shares of Jackson Financial during the third quarter valued at approximately $34,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Jackson Financial by 111.6% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares during the period. 89.96% of the stock is currently owned by institutional investors.

Jackson Financial Price Performance

JXN opened at $110.33 on Wednesday. The firm has a market capitalization of $7.50 billion, a PE ratio of 15.26 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.27 and a quick ratio of 0.27. The business’s 50-day moving average is $104.25 and its two-hundred day moving average is $98.32. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $118.18.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Tuesday, November 4th. The company reported $6.16 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $1.06. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the business posted $4.60 earnings per share. The firm’s quarterly revenue was down 33.2% on a year-over-year basis. Research analysts anticipate that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, December 4th. Jackson Financial’s payout ratio is currently 44.26%.

Analyst Upgrades and Downgrades

Several research firms have commented on JXN. Weiss Ratings restated a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Zacks Research upgraded Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Evercore ISI set a $118.00 target price on shares of Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Finally, Barclays restated an “overweight” rating and issued a $137.00 price target on shares of Jackson Financial in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.00.

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.