Teacher Retirement System of Texas Trims Position in Jackson Financial Inc. $JXN

Teacher Retirement System of Texas decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN) by 82.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 32,414 shares of the company’s stock after selling 152,071 shares during the period. Teacher Retirement System of Texas’ holdings in Jackson Financial were worth $3,281,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Jackson Financial during the 2nd quarter valued at about $30,000. Bayforest Capital Ltd raised its stake in Jackson Financial by 541.2% during the third quarter. Bayforest Capital Ltd now owns 327 shares of the company’s stock worth $33,000 after purchasing an additional 276 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $34,000. Pinnacle Bancorp Inc. acquired a new position in shares of Jackson Financial in the 3rd quarter valued at $34,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Jackson Financial by 111.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 438 shares of the company’s stock worth $39,000 after buying an additional 231 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Price Performance

JXN stock opened at $115.86 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.47. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $118.18. The stock’s 50 day moving average is $106.86 and its two-hundred day moving average is $99.39. The company has a market capitalization of $7.88 billion, a PE ratio of 16.03 and a beta of 1.44.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $6.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $1.06. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $4.60 EPS. The firm’s quarterly revenue was down 33.2% on a year-over-year basis. Analysts predict that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, December 4th. Jackson Financial’s payout ratio is 44.26%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Jackson Financial in a research report on Monday, December 29th. Evercore ISI set a $118.00 price target on shares of Jackson Financial and gave the company an “in-line” rating in a report on Tuesday, January 6th. Zacks Research raised shares of Jackson Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Morgan Stanley set a $105.00 price objective on shares of Jackson Financial in a research note on Monday, December 15th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Jackson Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. 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 company. According to MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus target price 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.