Illinois Municipal Retirement Fund Purchases 9,115 Shares of Jackson Financial Inc. (NYSE:JXN)

Illinois Municipal Retirement Fund increased its stake in Jackson Financial Inc. (NYSE:JXN) by 26.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 43,110 shares of the company’s stock after purchasing an additional 9,115 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Jackson Financial were worth $2,207,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. NBC Securities Inc. purchased a new stake in Jackson Financial in the 3rd quarter worth approximately $28,000. Daiwa Securities Group Inc. bought a new position in shares of Jackson Financial in the fourth quarter worth approximately $36,000. PNC Financial Services Group Inc. increased its stake 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 worth $39,000 after purchasing an additional 763 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Jackson Financial by 464.7% in the third quarter. Global Retirement Partners LLC now owns 1,344 shares of the company’s stock worth $49,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of Jackson Financial during the 4th quarter valued at $77,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Jackson Financial

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

Jackson Financial Price Performance

JXN opened at $69.58 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $61.54 and its 200-day simple moving average is $51.88. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 7.09 and a beta of 1.57. Jackson Financial Inc. has a 12-month low of $26.70 and a 12-month high of $70.97.

Jackson Financial (NYSE:JXN) last announced its quarterly 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 during the quarter, compared to analyst estimates of $1.40 billion. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.66 EPS. On average, equities research analysts anticipate that Jackson Financial Inc. will post 15.95 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently declared 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. The ex-dividend date was Monday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 4.02%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.62. Jackson Financial’s payout ratio is currently 28.54%.

Jackson Financial 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.