Illinois Municipal Retirement Fund Has $2.21 Million Holdings in Jackson Financial Inc. (NYSE:JXN)

Illinois Municipal Retirement Fund boosted its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 26.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,110 shares of the company’s stock after acquiring an additional 9,115 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of Jackson Financial worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. bought a new position in shares of Jackson Financial during the 4th quarter valued at about $36,000. NBC Securities Inc. bought a new position in Jackson Financial in the third quarter valued at approximately $28,000. PNC Financial Services Group Inc. boosted its holdings in shares of Jackson Financial by 291.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,025 shares of the company’s stock valued at $39,000 after buying an additional 763 shares during the period. Global Retirement Partners LLC increased its position in shares of Jackson Financial by 464.7% during the third quarter. Global Retirement Partners LLC now owns 1,344 shares of the company’s stock worth $49,000 after acquiring an additional 1,106 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new stake in shares of Jackson Financial during the fourth quarter worth $77,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JXN. Jefferies Financial Group reaffirmed a “hold” rating and set a $55.00 price target on shares of Jackson Financial in a research note on Tuesday, January 2nd. Evercore ISI lifted their target price on Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Morgan Stanley increased their price target on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price target on Jackson Financial from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group upped their price objective on Jackson Financial from $39.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $61.80.

Insider Transactions at Jackson Financial

In related news, Director Derek G. Kirkland purchased 3,500 shares of Jackson Financial stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $55.67 per share, with a total value of $194,845.00. Following the completion of the transaction, the director now directly owns 37,726 shares of the company’s stock, valued at approximately $2,100,206.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.70% of the company’s stock.

Jackson Financial Stock Performance

JXN opened at $69.58 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.33 and a quick ratio of 0.33. The business has a fifty day simple moving average of $61.54 and a 200 day simple moving average of $51.88. Jackson Financial Inc. has a 1 year low of $26.70 and a 1 year high of $70.97. The company has a market capitalization of $5.39 billion, a PE ratio of 7.09 and a beta of 1.57.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 21st. The company reported $2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($1.00). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $5.66 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts expect that Jackson Financial Inc. will post 15.95 EPS for the current year.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 12th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Monday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s dividend payout ratio is presently 28.54%.

Jackson Financial Company Profile

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.