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 dated 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 sale, the executive vice president directly owned 80,914 shares of the company’s stock, valued at $10,861,895.36. The trade was a 8.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Jackson Financial Stock Down 2.8%

Jackson Financial stock opened at $129.61 on Friday. Jackson Financial Inc. has a 52 week low of $88.20 and a 52 week high of $137.99. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 182.55 and a beta of 1.30. The company’s 50-day moving average price is $114.28 and its two-hundred day moving average price is $111.64. The company has a current ratio of 0.26, a quick ratio of 0.27 and a debt-to-equity ratio of 0.53.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Monday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $1.58. Jackson Financial had a net margin of 1.59% and a return on equity of 18.93%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.91 billion.

Jackson Financial Dividend Announcement

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 paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Jackson Financial’s dividend payout ratio (DPR) is presently 507.04%.

Institutional Investors Weigh In On Jackson Financial

A number of institutional investors and hedge funds have recently modified their holdings of JXN. Norges Bank acquired a new stake in shares of Jackson Financial in the fourth quarter worth $129,878,000. Bank of New York Mellon Corp acquired a new position in Jackson Financial during the second quarter valued at $66,639,000. Hsbc Holdings PLC lifted its stake in 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 in the last quarter. Amundi boosted its position in Jackson Financial by 1,446.4% during 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 period. Finally, Focus Partners Wealth purchased a new position in Jackson Financial during the 3rd quarter valued at about $15,812,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on JXN shares. Barclays upped their price objective on Jackson Financial from $139.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday. Weiss Ratings upgraded shares of Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Wall Street Zen raised shares of Jackson Financial from a “hold” rating to a “buy” rating in a report on Saturday. Keefe, Bruyette & Woods raised their price objective on shares of Jackson Financial from $130.00 to $140.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Evercore set a $135.00 price objective on shares of Jackson Financial in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Jackson Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.80.

Jackson Financial Company Profile

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.