Jackson Financial Inc. $JXN Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 17.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 35,100 shares of the company’s stock after selling 7,430 shares during the quarter. State of Alaska Department of Revenue’s holdings in Jackson Financial were worth $3,553,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Jackson Financial in the 2nd quarter valued at $30,000. Salomon & Ludwin LLC purchased a new position in shares of Jackson Financial during the third quarter worth about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Jackson Financial by 111.6% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock worth $39,000 after purchasing an additional 231 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Jackson Financial by 1,342.9% in the 2nd quarter. Sound Income Strategies LLC now owns 505 shares of the company’s stock valued at $45,000 after purchasing an additional 470 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Jackson Financial by 62.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 558 shares of the company’s stock valued at $50,000 after purchasing an additional 215 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Stock Down 1.7%

Jackson Financial stock opened at $115.33 on Tuesday. The stock’s 50 day moving average price is $102.01 and its 200 day moving average price is $97.31. The company has a market cap of $7.84 billion, a PE ratio of 15.95 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. Jackson Financial Inc. has a 1-year low of $64.70 and a 1-year high of $118.18.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, March 22nd. The company reported $6.26 EPS for the quarter. The company had revenue of ($1,162.00) million for the quarter. On average, sell-side analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a $0.80 dividend. The ex-dividend date was Thursday, December 4th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.8%. Jackson Financial’s dividend payout ratio is currently 44.26%.

Jackson Financial declared that its board has authorized a stock buyback plan on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 14.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on JXN. Morgan Stanley set a $105.00 price target on Jackson Financial in a research report on Monday, December 15th. Barclays reaffirmed an “overweight” rating and issued a $137.00 target price on shares of Jackson Financial in a report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Finally, Evercore ISI set a $118.00 price target on Jackson Financial and gave the stock an “in-line” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Jackson Financial has a consensus rating of “Hold” and a consensus target price 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.