Carrie Chelko Sells 5,500 Shares of Jackson Financial Inc. (NYSE:JXN) Stock

Jackson Financial Inc. (NYSE:JXN) EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the transaction, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jackson Financial Stock Performance

Shares of JXN opened at $89.64 on Wednesday. The firm has a market capitalization of $6.84 billion, a P/E ratio of 2.37 and a beta of 1.50. Jackson Financial Inc. has a 52 week low of $35.27 and a 52 week high of $92.65. The stock has a 50 day moving average price of $84.45 and a two-hundred day moving average price of $75.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.00. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.71 billion. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.34 EPS. Equities analysts forecast that Jackson Financial Inc. will post 18.49 earnings per share for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a $0.70 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.80 annualized dividend and a yield of 3.12%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Jackson Financial declared that its Board of Directors has authorized a share buyback program on Wednesday, August 7th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors have recently added to or reduced their stakes in JXN. Norges Bank purchased a new position in Jackson Financial in the fourth quarter valued at about $51,189,000. Acadian Asset Management LLC raised its holdings in shares of Jackson Financial by 146.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,219,218 shares of the company’s stock worth $90,525,000 after purchasing an additional 724,148 shares during the period. LSV Asset Management lifted its stake in Jackson Financial by 2,459.7% in the second quarter. LSV Asset Management now owns 439,339 shares of the company’s stock valued at $32,625,000 after purchasing an additional 422,175 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in Jackson Financial by 20.1% during the first quarter. Donald Smith & CO. Inc. now owns 2,376,476 shares of the company’s stock valued at $157,180,000 after purchasing an additional 397,287 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Jackson Financial in the first quarter valued at $21,892,000. Institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on JXN. Barclays initiated coverage on shares of Jackson Financial in a research report on Wednesday, September 4th. They set an “overweight” rating and a $109.00 target price on the stock. Jefferies Financial Group increased their price objective on shares of Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their target price on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Evercore ISI cut their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Finally, Morgan Stanley boosted their price objective on Jackson Financial from $86.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $80.00.

About Jackson Financial

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.