Key Points
- Jackson Financial EVP Carrie Chelko sold 7,500 shares for approximately $1.01 million, reducing her direct holdings by 8.48% to 80,914 shares.
- The company reported strong quarterly results, with EPS of $7.30 beating estimates of $5.72 and revenue of $2 billion exceeding the $1.91 billion consensus forecast.
- Jackson Financial declared a quarterly dividend of $0.90 per share, equivalent to a $3.60 annualized payout and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $133.80.
Jackson Financial Inc. (NYSE:JXN - Get Free Report) EVP Carrie Chelko sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Jackson Financial Stock Down 0.9%
Jackson Financial stock opened at $133.30 on Friday. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 187.75 and a beta of 1.30. Jackson Financial Inc. has a 52-week low of $88.20 and a 52-week high of $137.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.27 and a current ratio of 0.26. The firm has a 50 day moving average price of $113.74 and a two-hundred day moving average price of $111.51.
Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $7.30 EPS for the quarter, beating analysts' consensus estimates of $5.72 by $1.58. Jackson Financial had a net margin of 1.59% and a return on equity of 18.93%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion.
Jackson Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors 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 yield of 2.7%. Jackson Financial's payout ratio is presently 507.04%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Barclays increased their price target on Jackson Financial from $139.00 to $149.00 and gave the stock an "overweight" rating in a report on Tuesday. Weiss Ratings raised Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. Evercore set a $135.00 target price on Jackson Financial in a research report on Wednesday. Jefferies Financial Group raised Jackson Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded Jackson Financial from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $133.80.
Get Our Latest Report on Jackson Financial
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP grew its holdings in Jackson Financial by 404.0% in the third quarter. Allworth Financial LP now owns 252 shares of the company's stock worth $26,000 after purchasing an additional 202 shares during the period. Rothschild Investment LLC raised its holdings in shares of Jackson Financial by 79.9% during the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company's stock valued at $34,000 after purchasing an additional 143 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Jackson Financial during the fourth quarter valued at about $35,000. Advisory Services Network LLC bought a new position in shares of Jackson Financial during the 3rd quarter worth about $37,000. Finally, Signature Equity Partners LLC bought a new position in shares of Jackson Financial during the 1st quarter worth about $38,000. 89.96% of the stock is owned by institutional investors.
About Jackson Financial
(
Get Free Report)
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.
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