Jackson Financial (NYSE:JXN) EVP Sells $1,006,800.00 in Stock

Jackson Financial Inc. (NYSE:JXN) EVP Carrie Chelko sold 7,500 shares of Jackson Financial stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the sale, the executive vice president directly owned 80,914 shares of the company’s stock, valued at $10,861,895.36. This represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Jackson Financial Stock Down 2.8%

Shares of NYSE:JXN opened at $129.61 on Friday. Jackson Financial Inc. has a 52-week low of $88.20 and a 52-week high of $137.99. The firm has a fifty day moving average of $114.28 and a 200 day moving average of $111.64. The firm has a market capitalization of $9.04 billion, a PE ratio of 182.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.27 and a current ratio of 0.26.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, beating analysts’ consensus estimates of $5.72 by $1.58. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.91 billion.

Jackson Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 annualized dividend and a dividend yield of 2.8%. Jackson Financial’s dividend payout ratio is 507.04%.

Institutional Investors Weigh In On Jackson Financial

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Jackson Financial by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company’s stock worth $429,240,000 after purchasing an additional 18,740 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Jackson Financial by 16.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after purchasing an additional 220,095 shares during the last quarter. Norges Bank bought a new position in shares of Jackson Financial in the fourth quarter worth approximately $129,878,000. Morgan Stanley increased its stake in shares of Jackson Financial by 6.0% in the fourth quarter. Morgan Stanley now owns 1,196,405 shares of the company’s stock worth $127,597,000 after buying an additional 67,796 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Jackson Financial by 14.8% in the fourth quarter. Federated Hermes Inc. now owns 981,046 shares of the company’s stock worth $104,629,000 after buying an additional 126,611 shares during the period. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on JXN shares. Weiss Ratings upgraded Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Evercore set a $135.00 price target on shares of Jackson Financial in a research report on Wednesday. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $120.00 to $140.00 in a report on Friday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Jackson Financial from $130.00 to $140.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Barclays upped their price objective on shares of Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.80.

Jackson Financial Company 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.