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

California Public Employees Retirement System grew its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,390 shares of the company’s stock after purchasing an additional 5,814 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of Jackson Financial worth $14,525,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of JXN. Kera Capital Partners Inc. increased its stake in Jackson Financial by 0.9% during the first quarter. Kera Capital Partners Inc. now owns 49,011 shares of the company’s stock worth $5,181,000 after acquiring an additional 440 shares during the last quarter. Assetmark Inc. increased its position in shares of Jackson Financial by 6.6% during the 1st quarter. Assetmark Inc. now owns 106,942 shares of the company’s stock worth $11,306,000 after purchasing an additional 6,634 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Jackson Financial by 21.0% during the 1st quarter. Bessemer Group Inc. now owns 97,010 shares of the company’s stock worth $10,257,000 after purchasing an additional 16,849 shares during the last quarter. Quartz Partners LLC purchased a new stake in Jackson Financial in the 1st quarter valued at about $409,000. Finally, Bank of New York Mellon Corp raised its holdings in Jackson Financial by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock valued at $96,295,000 after buying an additional 24,747 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on JXN. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of Jackson Financial from $125.00 to $130.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Weiss Ratings lowered 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, July 7th. Finally, Wall Street Zen cut Jackson Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.40.

Jackson Financial Stock Performance

NYSE JXN opened at $118.96 on Friday. Jackson Financial Inc. has a 52-week low of $82.65 and a 52-week high of $126.69. The business’s 50-day moving average price is $110.32 and its 200 day moving average price is $110.77. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. The firm 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, June 11th. This represents a $3.60 dividend on an annualized basis and a yield of 3.0%. Jackson Financial’s dividend payout ratio is presently -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.