Illinois Municipal Retirement Fund Cuts Position in Jackson Financial Inc. $JXN

Illinois Municipal Retirement Fund reduced its position in shares of Jackson Financial Inc. (NYSE:JXN) by 43.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,110 shares of the company’s stock after selling 29,249 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Jackson Financial worth $3,858,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. LSV Asset Management lifted its stake in Jackson Financial by 1.4% during the 3rd quarter. LSV Asset Management now owns 847,798 shares of the company’s stock worth $85,823,000 after acquiring an additional 11,560 shares in the last quarter. Versor Investments LP increased its stake in Jackson Financial by 63.6% during the third quarter. Versor Investments LP now owns 12,718 shares of the company’s stock worth $1,287,000 after purchasing an additional 4,943 shares during the period. Candriam S.C.A. boosted its stake in shares of Jackson Financial by 2.9% in the third quarter. Candriam S.C.A. now owns 154,403 shares of the company’s stock valued at $15,630,000 after purchasing an additional 4,371 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Jackson Financial by 11.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,142 shares of the company’s stock valued at $117,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Investment Advisory Services LLC increased its stake in Jackson Financial by 26.4% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 28,536 shares of the company’s stock worth $2,889,000 after buying an additional 5,955 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Price Performance

Jackson Financial stock opened at $113.69 on Friday. 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 has a 50 day simple moving average of $111.76 and a 200-day simple moving average of $101.87. Jackson Financial Inc. has a 12 month low of $64.70 and a 12 month high of $123.61. The stock has a market capitalization of $7.73 billion, a PE ratio of 15.72 and a beta of 1.45.

Analyst Ratings Changes

A number of research firms have recently weighed in on JXN. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a report on Monday, December 15th. Barclays reiterated an “overweight” rating and set a $137.00 target price on shares of Jackson Financial in a research report on Thursday, January 8th. Finally, Evercore set a $118.00 price target on shares of Jackson Financial and gave the company an “in-line” rating in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.