California Public Employees Retirement System Raises Stake in Jackson Financial Inc. $JXN

California Public Employees Retirement System lifted its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 4.4% during the first quarter, HoldingsChannel.com reports. The firm owned 137,390 shares of the company’s stock after purchasing an additional 5,814 shares during the period. California Public Employees Retirement System’s holdings in Jackson Financial were worth $14,525,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in Jackson Financial in the 4th quarter valued at approximately $129,878,000. Hsbc Holdings PLC grew its holdings in Jackson Financial by 16.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after purchasing an additional 220,095 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Jackson Financial by 31.7% in the 4th quarter. Bank of New York Mellon Corp now owns 886,106 shares of the company’s stock worth $94,503,000 after buying an additional 213,131 shares in the last quarter. Amundi grew its stake in Jackson Financial by 1,446.4% in the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock valued at $19,696,000 after acquiring an additional 181,291 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in Jackson Financial in the 3rd quarter valued at about $15,812,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on JXN shares. Barclays raised their target price on shares of Jackson Financial from $136.00 to $139.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $120.00 to $140.00 in a research report on Friday, July 10th. Weiss Ratings downgraded Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods upped their price objective on Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Finally, Wall Street Zen lowered Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.40.

Jackson Financial Stock Up 2.3%

Shares of NYSE JXN opened at $118.96 on Friday. The stock has a fifty day moving average price of $110.32 and a 200 day moving average price of $110.77. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.49. Jackson Financial Inc. has a 12-month low of $82.65 and a 12-month high of $126.69. The company has a market cap of $8.30 billion, a P/E ratio of -19.47 and a beta of 1.32.

Jackson Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a $0.90 dividend. The ex-dividend date was Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.0%. Jackson Financial’s dividend payout ratio (DPR) is -58.92%.

Jackson Financial Profile

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.