Insider Selling: Jackson Financial (NYSE:JXN) CEO Sells $653,450.00 in Stock

Jackson Financial Inc. (NYSE:JXN) CEO Christopher Raub sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the sale, the chief executive officer directly owned 42,160 shares of the company’s stock, valued at approximately $5,509,890.40. This trade represents a 10.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Jackson Financial Stock Up 0.7%

Shares of NYSE:JXN opened at $135.29 on Friday. The business’s 50 day moving average is $116.92 and its 200 day moving average is $112.29. Jackson Financial Inc. has a 12-month low of $89.67 and a 12-month high of $137.99. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 190.55 and a beta of 1.30. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53.

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

Jackson Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. Jackson Financial’s dividend payout ratio is currently 507.04%.

Hedge Funds Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Seeds Investor LLC increased its holdings in Jackson Financial by 4.5% during the fourth quarter. Seeds Investor LLC now owns 2,373 shares of the company’s stock worth $253,000 after buying an additional 102 shares during the last quarter. Triumph Capital Management boosted its stake in Jackson Financial by 2.7% in the fourth quarter. Triumph Capital Management now owns 4,110 shares of the company’s stock valued at $438,000 after acquiring an additional 107 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Jackson Financial by 1.7% in the fourth quarter. CIBC Asset Management Inc now owns 6,946 shares of the company’s stock valued at $741,000 after acquiring an additional 113 shares during the last quarter. UMB Bank n.a. grew its position in shares of Jackson Financial by 41.0% during the 4th quarter. UMB Bank n.a. now owns 392 shares of the company’s stock valued at $42,000 after acquiring an additional 114 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Jackson Financial by 5.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,405 shares of the company’s stock valued at $254,000 after acquiring an additional 126 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JXN shares. Evercore set a $135.00 price target on shares of Jackson Financial in a report on Wednesday, August 5th. Jefferies Financial Group upgraded shares of Jackson Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Barclays lifted their target price on shares of Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Keefe, Bruyette & Woods upped their target price on Jackson Financial from $130.00 to $140.00 and gave the company a “market perform” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.80.

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.