Jackson Financial Inc. $JXN Holdings Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in shares of Jackson Financial Inc. (NYSE:JXN) by 188.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 184,485 shares of the company’s stock after buying an additional 120,561 shares during the quarter. Teacher Retirement System of Texas’ holdings in Jackson Financial were worth $16,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its position in Jackson Financial by 7.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,666,047 shares of the company’s stock worth $139,581,000 after purchasing an additional 108,758 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Jackson Financial by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,084,560 shares of the company’s stock worth $90,864,000 after purchasing an additional 5,320 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Jackson Financial by 296.7% during the 1st quarter. Millennium Management LLC now owns 658,468 shares of the company’s stock valued at $55,166,000 after acquiring an additional 492,492 shares in the last quarter. LSV Asset Management grew its holdings in shares of Jackson Financial by 11.1% during the 1st quarter. LSV Asset Management now owns 651,798 shares of the company’s stock valued at $54,608,000 after acquiring an additional 65,239 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Jackson Financial during the 1st quarter valued at $43,830,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Trading Down 1.2%

Shares of NYSE:JXN opened at $98.68 on Wednesday. The stock has a market capitalization of $6.87 billion, a PE ratio of -1,644.39 and a beta of 1.45. Jackson Financial Inc. has a 1 year low of $64.70 and a 1 year high of $115.22. The firm has a fifty day moving average price of $98.64 and a 200 day moving average price of $89.47. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, March 22nd. The company reported $6.26 earnings per share (EPS) for the quarter. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The company had revenue of ($1,162.00) million during the quarter. Analysts expect that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial announced that its board has initiated a share buyback plan on Thursday, September 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 14.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Monday, September 15th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, September 15th. Jackson Financial’s dividend payout ratio is -5,333.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on JXN shares. Morgan Stanley boosted their price target on shares of Jackson Financial from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Zacks Research raised Jackson Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Evercore ISI raised their price target on Jackson Financial from $100.00 to $110.00 and gave the stock an “underperform” rating in a research note on Thursday, October 9th. Jefferies Financial Group raised their price target on Jackson Financial from $88.00 to $95.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Jackson Financial in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $109.20.

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.