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

Jackson Financial Inc. (NYSE:JXN) CEO Christopher Raub sold 5,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total value of $653,450.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Jackson Financial Price Performance

Shares of NYSE JXN opened at $134.64 on Friday. The business has a 50 day moving average price of $116.37 and a two-hundred day moving average price of $112.13. Jackson Financial Inc. has a fifty-two week low of $89.67 and a fifty-two week high of $137.99. The firm has a market cap of $9.12 billion, a PE ratio of 189.63 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 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $1.58. The business had revenue of $2 billion during the quarter, compared to the consensus estimate 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 business also recently disclosed 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 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is currently 507.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JXN. Evercore set a $135.00 target price on shares of Jackson Financial in a research note on Wednesday, August 5th. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. Wall Street Zen raised Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Barclays boosted their price objective on Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Keefe, Bruyette & Woods increased their target price on Jackson Financial from $130.00 to $140.00 and gave the stock 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 issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.80.

Institutional Trading of Jackson Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Jackson Financial by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company’s stock worth $429,240,000 after buying an additional 18,740 shares during the last quarter. Donald Smith & CO. Inc. bought a new position in shares of Jackson Financial in the second quarter valued at $183,186,000. Hsbc Holdings PLC lifted its position in shares of Jackson Financial by 16.5% during the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after acquiring an additional 220,095 shares during the last quarter. Norges Bank bought a new stake in shares of Jackson Financial during the 4th quarter worth $129,878,000. Finally, Morgan Stanley boosted its stake in shares of Jackson Financial by 6.0% during the 4th quarter. Morgan Stanley now owns 1,196,405 shares of the company’s stock worth $127,597,000 after acquiring an additional 67,796 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

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.