Key Points
- CEO insider sale: Christopher Raub sold 5,000 Jackson Financial shares for approximately $653,450, reducing his direct holdings by 10.6% to 42,160 shares.
- Strong quarterly results: Jackson Financial reported quarterly EPS of $7.30, well above the $5.72 consensus estimate, while revenue of $2 billion also exceeded expectations.
- Positive investor outlook: The company declared a $0.90 quarterly dividend, and analysts maintain a “Moderate Buy” consensus with an average price target of $133.80; institutional investors own nearly 90% of outstanding shares.
Jackson Financial Inc. (NYSE:JXN - Get Free Report) CEO Christopher Raub sold 5,000 shares of Jackson Financial 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 completion of the transaction, the chief executive officer directly owned 42,160 shares in the company, valued at $5,509,890.40. This represents a 10.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Jackson Financial Price Performance
JXN stock opened at $134.64 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.53. Jackson Financial Inc. has a one year low of $89.67 and a one year high of $137.99. The firm has a market capitalization of $9.12 billion, a PE ratio of 189.63 and a beta of 1.30. The firm has a 50-day moving average of $116.37 and a two-hundred day moving average of $112.13.
Jackson Financial (NYSE:JXN - Get Free Report) last announced its 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Jackson Financial's dividend payout ratio is 507.04%.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of JXN. Integrated Wealth Concepts LLC raised its holdings in shares of Jackson Financial by 33.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 5,471 shares of the company's stock valued at $458,000 after purchasing an additional 1,363 shares in the last quarter. Woodline Partners LP bought a new stake in Jackson Financial in the first quarter worth $4,081,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Jackson Financial by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,836 shares of the company's stock worth $17,664,000 after purchasing an additional 7,380 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Jackson Financial by 55.5% during the second quarter. EverSource Wealth Advisors LLC now owns 911 shares of the company's stock worth $81,000 after buying an additional 325 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Jackson Financial during the second quarter worth $986,000. Institutional investors and hedge funds own 89.96% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Barclays boosted their target price on shares of Jackson Financial from $139.00 to $149.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Jefferies Financial Group upgraded shares of Jackson Financial from a "hold" rating to a "buy" rating and upped their price objective for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $130.00 to $140.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Finally, Evercore set a $135.00 price target on shares of Jackson Financial in a research note on Wednesday, August 5th. One equities 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.80.
Read Our Latest Analysis on Jackson Financial
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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