Carrie Chelko Sells 7,500 Shares of Jackson Financial (NYSE:JXN) Stock

Jackson Financial Inc. (NYSE:JXN) EVP Carrie Chelko sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total transaction of $1,006,800.00. Following the completion of the transaction, the executive vice president directly owned 80,914 shares in the company, valued at approximately $10,861,895.36. The trade was a 8.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Jackson Financial Price Performance

NYSE:JXN traded down $1.26 during trading hours on Thursday, hitting $133.30. 452,115 shares of the company’s stock traded hands, compared to its average volume of 619,555. Jackson Financial Inc. has a 52 week low of $88.20 and a 52 week high of $137.99. The business’s fifty day simple moving average is $113.14 and its two-hundred day simple moving average is $111.37. The company has a quick ratio of 0.27, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The firm has a market cap of $9.30 billion, a P/E ratio of 187.75 and a beta of 1.30.

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, beating the consensus estimate of $5.72 by $1.58. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 dividend on an annualized basis and a yield of 2.7%. Jackson Financial’s dividend payout ratio (DPR) is presently 507.04%.

Analyst Ratings Changes

JXN has been the topic of a number of recent research reports. Barclays increased their price target on shares of Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday. Weiss Ratings raised Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $120.00 to $140.00 in a research note on Friday, July 10th. Evercore set a $135.00 price objective on Jackson Financial in a research report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $130.00 to $140.00 and gave the stock a “market perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.80.

Institutional Trading of Jackson Financial

Several hedge funds have recently modified their holdings of JXN. Norges Bank purchased a new position in Jackson Financial during the fourth quarter worth $129,878,000. Bank of New York Mellon Corp purchased a new stake in shares of Jackson Financial in the second quarter valued at $66,639,000. Hsbc Holdings PLC lifted its holdings in shares of Jackson Financial by 16.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock worth $166,476,000 after acquiring an additional 220,095 shares during the last quarter. Amundi lifted its holdings in shares of Jackson Financial by 1,446.4% in the 3rd quarter. Amundi now owns 193,825 shares of the company’s stock worth $19,696,000 after acquiring an additional 181,291 shares during the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Jackson Financial during the 3rd quarter worth about $15,812,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

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.