Louisiana State Employees Retirement System Purchases Shares of 31,400 Jackson Financial Inc. $JXN

Louisiana State Employees Retirement System acquired a new stake in Jackson Financial Inc. (NYSE:JXN) during the 1st quarter, Holdings Channel reports. The firm acquired 31,400 shares of the company’s stock, valued at approximately $3,320,000.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of Jackson Financial by 12.2% during the third quarter. Victory Capital Management Inc. now owns 601,151 shares of the company’s stock worth $60,855,000 after acquiring an additional 65,202 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Jackson Financial in the third quarter worth about $3,373,000. NewSquare Capital LLC increased its holdings in shares of Jackson Financial by 343,300.0% in the third quarter. NewSquare Capital LLC now owns 10,302 shares of the company’s stock worth $1,043,000 after purchasing an additional 10,299 shares during the last quarter. Horizon Investments LLC purchased a new stake in shares of Jackson Financial in the fourth quarter worth about $2,638,000. Finally, Accordant Advisory Group Inc purchased a new stake in shares of Jackson Financial in the fourth quarter worth about $1,678,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen downgraded Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings lowered shares of Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Barclays dropped their price objective on shares of Jackson Financial from $138.00 to $136.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Jackson Financial from $120.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $115.80.

Jackson Financial Stock Up 0.3%

NYSE JXN opened at $106.77 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $108.96 and a two-hundred day moving average of $109.55. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of -17.47 and a beta of 1.32. Jackson Financial Inc. has a 52 week low of $82.65 and a 52 week high of $123.61.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, June 11th. Jackson Financial’s dividend payout ratio is presently -58.92%.

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.