Christopher Raub Sells 5,000 Shares of Jackson Financial (NYSE:JXN) Stock

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

Jackson Financial Trading Up 3.0%

Jackson Financial stock traded up $3.98 during trading hours on Thursday, reaching $134.64. 498,735 shares of the company’s stock traded hands, compared to its average volume of 617,468. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 189.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26. Jackson Financial Inc. has a fifty-two week low of $89.67 and a fifty-two week high of $137.99. The firm’s 50 day moving average is $115.79 and its 200-day moving average is $111.98.

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

Jackson Financial Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company’s stock valued at $26,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC raised its position in shares of Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company’s stock worth $34,000 after purchasing an additional 143 shares during the period. Plato Investment Management Ltd bought a new position in shares of Jackson Financial during the 4th quarter valued at about $35,000. Signature Equity Partners LLC bought a new position in shares of Jackson Financial during the 1st quarter valued at about $38,000. Finally, Advisory Services Network LLC bought a new position in shares of Jackson Financial during the 3rd quarter valued at about $37,000. 89.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of analyst reports. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Evercore set a $135.00 price objective on Jackson Financial in a research note on Wednesday, August 5th. Weiss Ratings upgraded Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Jefferies Financial Group raised Jackson Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Finally, Barclays raised their target price on Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.