California Public Employees Retirement System Sells 10,704 Shares of Jackson Financial Inc. (NYSE:JXN)

California Public Employees Retirement System decreased its holdings in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,511 shares of the company's stock after selling 10,704 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Jackson Financial worth $12,323,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Cerity Partners LLC raised its position in shares of Jackson Financial by 84.8% in the third quarter. Cerity Partners LLC now owns 8,022 shares of the company's stock valued at $732,000 after purchasing an additional 3,681 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Jackson Financial by 9.6% in the third quarter. The Manufacturers Life Insurance Company now owns 48,918 shares of the company's stock valued at $4,463,000 after purchasing an additional 4,290 shares during the period. FMR LLC raised its position in shares of Jackson Financial by 106.0% in the third quarter. FMR LLC now owns 174,505 shares of the company's stock valued at $15,920,000 after purchasing an additional 89,798 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Jackson Financial by 0.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 172,117 shares of the company's stock valued at $15,702,000 after purchasing an additional 757 shares during the period. Finally, Arete Wealth Advisors LLC bought a new position in shares of Jackson Financial in the third quarter valued at about $258,000. Institutional investors and hedge funds own 89.96% of the company's stock.

Insiders Place Their Bets

In related news, CEO Craig Donald Smith sold 20,607 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $69.52, for a total value of $1,432,598.64. Following the sale, the chief executive officer now directly owns 116,423 shares in the company, valued at approximately $8,093,726.96. The trade was a 15.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott Romine sold 7,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the sale, the chief executive officer now owns 85,276 shares in the company, valued at $7,199,852.68. This represents a 7.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on JXN. Barclays raised their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods lowered their price target on shares of Jackson Financial from $105.00 to $90.00 and set a "market perform" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $94.40.

Jackson Financial Trading Down 7.0 %

Shares of NYSE:JXN traded down $5.43 during mid-day trading on Thursday, hitting $72.14. The company had a trading volume of 173,258 shares, compared to its average volume of 748,447. The firm has a fifty day moving average price of $85.46 and a 200 day moving average price of $92.14. The company has a market capitalization of $5.24 billion, a PE ratio of 6.31 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.30 and a quick ratio of 0.30. Jackson Financial Inc. has a one year low of $62.81 and a one year high of $115.22.

Jackson Financial (NYSE:JXN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. As a group, research analysts forecast that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.44%. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. The ex-dividend date was Tuesday, March 11th. Jackson Financial's payout ratio is currently 27.95%.

About Jackson Financial

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.