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 company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jackson Financial Stock Up 0.5 %

Jackson Financial stock traded up $0.45 during mid-day trading on Monday, hitting $90.55. The company had a trading volume of 562,116 shares, compared to its average volume of 759,618. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42. The stock’s 50 day moving average price is $84.13 and its two-hundred day moving average price is $75.22. Jackson Financial Inc. has a 12 month low of $35.27 and a 12 month high of $92.65. The company has a market capitalization of $6.91 billion, a PE ratio of 2.38 and a beta of 1.50.

Jackson Financial (NYSE:JXN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $5.32 earnings per share (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. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.34 earnings per share. As a group, sell-side analysts anticipate that Jackson Financial Inc. will post 18.49 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s payout ratio is currently 7.40%.

Jackson Financial declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

JXN has been the topic of several recent research reports. Jefferies Financial Group upped their price target on Jackson Financial from $73.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Evercore ISI reduced their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Keefe, Bruyette & Woods upped their price target on Jackson Financial from $80.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Barclays initiated coverage on Jackson Financial in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $109.00 price target on the stock. Finally, Morgan Stanley upped their price target on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $80.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JXN. Hantz Financial Services Inc. bought a new position in Jackson Financial in the second quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its holdings in Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock valued at $27,000 after acquiring an additional 316 shares during the period. GAMMA Investing LLC lifted its holdings in Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock valued at $32,000 after acquiring an additional 154 shares during the period. Kapitalo Investimentos Ltda bought a new position in Jackson Financial in the fourth quarter valued at about $57,000. Finally, Valued Wealth Advisors LLC bought a new position in Jackson Financial in the first quarter valued at about $66,000. 89.96% of the stock is owned by institutional investors.

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.