New York State Teachers Retirement System Trims Stake in Jackson Financial Inc. $JXN

New York State Teachers Retirement System lessened its position in Jackson Financial Inc. (NYSE:JXN) by 16.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,798 shares of the company’s stock after selling 8,701 shares during the quarter. New York State Teachers Retirement System owned approximately 0.06% of Jackson Financial worth $4,630,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its holdings in Jackson Financial by 33.2% in the first quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company’s stock worth $458,000 after purchasing an additional 1,363 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Jackson Financial in the 1st quarter worth about $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Jackson Financial by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company’s stock worth $17,664,000 after buying an additional 7,380 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Jackson Financial by 55.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company’s stock worth $81,000 after acquiring an additional 325 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Jackson Financial in the 2nd quarter worth about $986,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Stock Down 0.7%

JXN stock opened at $108.51 on Thursday. The stock has a market capitalization of $7.57 billion, a P/E ratio of -17.76 and a beta of 1.32. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.27. Jackson Financial Inc. has a 1-year low of $82.65 and a 1-year high of $123.61. The business has a fifty day moving average price of $108.10 and a 200-day moving average price of $109.66.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, June 11th. This represents a $3.60 annualized dividend and a yield of 3.3%. Jackson Financial’s dividend payout ratio is currently -58.92%.

Analyst Ratings Changes

JXN has been the topic of a number of recent research reports. Wall Street Zen cut shares of Jackson Financial from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings cut Jackson Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Barclays upped their price target on Jackson Financial from $136.00 to $139.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on Jackson Financial from $120.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $116.40.

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.