Illinois Municipal Retirement Fund Increases Position in Jackson Financial Inc. (NYSE:JXN)

Illinois Municipal Retirement Fund grew its position in shares of Jackson Financial Inc. (NYSE:JXN - Free Report) by 73.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,827 shares of the company's stock after buying an additional 29,043 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.09% of Jackson Financial worth $5,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in Jackson Financial in the 4th quarter valued at approximately $26,000. World Investment Advisors LLC bought a new stake in shares of Jackson Financial in the 3rd quarter valued at approximately $31,000. Blue Trust Inc. raised its stake in Jackson Financial by 232.1% during the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $34,000 after acquiring an additional 260 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Jackson Financial during the fourth quarter worth approximately $126,000. Finally, Harbor Capital Advisors Inc. bought a new position in Jackson Financial in the 3rd quarter valued at $141,000. 89.96% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gregory T. Durant acquired 1,500 shares of the stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the acquisition, the director now directly owns 32,023 shares of the company's stock, valued at approximately $2,891,036.44. This represents a 4.91 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on JXN. Evercore ISI lowered Jackson Financial from an "in-line" rating to an "underperform" rating and increased their price objective for the company from $74.00 to $95.00 in a research report on Thursday, November 14th. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $103.00 to $105.00 and gave the stock a "market perform" rating in a report on Friday. Finally, Barclays boosted their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $97.40.

Jackson Financial Trading Up 3.3 %

NYSE JXN traded up $2.95 during trading hours on Friday, reaching $91.66. The company's stock had a trading volume of 1,118,524 shares, compared to its average volume of 629,442. The stock has a market cap of $6.77 billion, a P/E ratio of 8.01 and a beta of 1.47. Jackson Financial Inc. has a 52 week low of $54.47 and a 52 week high of $115.22. The firm has a fifty day simple moving average of $90.81 and a 200-day simple moving average of $93.00. 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 (NYSE:JXN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing analysts' consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. Equities analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current fiscal year.

Jackson Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Tuesday, March 11th. This is an increase from Jackson Financial's previous quarterly dividend of $0.70. Jackson Financial's dividend payout ratio (DPR) is 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.