Jackson Financial Inc. (NYSE:JXN) Sees Significant Growth in Short Interest

Jackson Financial Inc. (NYSE:JXN) saw a large growth in short interest in July. As of July 31st, there was short interest totalling 3,470,000 shares, a growth of 6.8% from the July 15th total of 3,250,000 shares. Based on an average trading volume of 731,000 shares, the short-interest ratio is presently 4.7 days. Currently, 4.7% of the company’s stock are sold short.

Insider Activity

In other Jackson Financial news, CFO Don W. Cummings purchased 1,445 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the purchase, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Asset Allocation Strategies LLC grew its stake in Jackson Financial by 0.6% in the second quarter. Asset Allocation Strategies LLC now owns 18,926 shares of the company’s stock valued at $1,405,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC increased its holdings in Jackson Financial by 47.0% in the 1st quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Jackson Financial by 1.2% during the second quarter. Private Advisor Group LLC now owns 14,962 shares of the company’s stock worth $1,111,000 after purchasing an additional 178 shares in the last quarter. International Assets Investment Management LLC lifted its position in Jackson Financial by 2.0% during the second quarter. International Assets Investment Management LLC now owns 9,954 shares of the company’s stock worth $739,000 after buying an additional 199 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Jackson Financial by 18.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,532 shares of the company’s stock valued at $101,000 after buying an additional 235 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Jackson Financial Stock Performance

Shares of JXN traded up $2.14 on Friday, reaching $89.62. The company’s stock had a trading volume of 952,527 shares, compared to its average volume of 765,819. Jackson Financial has a 12-month low of $32.84 and a 12-month high of $89.81. The stock’s 50 day simple moving average is $78.25 and its two-hundred day simple moving average is $69.29. The stock has a market capitalization of $6.83 billion, a P/E ratio of 2.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.32 and a quick ratio of 0.32.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.71 billion. Jackson Financial’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.34 earnings per share. Research analysts forecast that Jackson Financial will post 17.33 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.12%. Jackson Financial’s payout ratio is presently 7.40%.

Analyst Upgrades and Downgrades

JXN has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday. Morgan Stanley increased their price target on shares of Jackson Financial from $82.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Jefferies Financial Group lifted their price objective on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Evercore ISI cut their target price on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research report on Wednesday, June 26th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Jackson Financial presently has an average rating of “Hold” and a consensus target price of $73.20.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.