Scott Romine Sells 7,000 Shares of Jackson Financial Inc. (NYSE:JXN) Stock

Jackson Financial Inc. (NYSE:JXN) CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total transaction of $591,010.00. Following the transaction, the chief executive officer now owns 85,276 shares of the company’s stock, valued at approximately $7,199,852.68. The trade was a 7.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Jackson Financial Stock Down 0.6 %

JXN opened at $80.65 on Thursday. Jackson Financial Inc. has a one year low of $60.54 and a one year high of $115.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $5.86 billion, a P/E ratio of 7.04 and a beta of 1.48. The business’s 50-day simple moving average is $90.10 and its 200-day simple moving average is $92.88.

Jackson Financial (NYSE:JXN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.81 billion. Analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current year.

Jackson Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 3.97%. This is a boost from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s dividend payout ratio is currently 27.95%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Jackson Financial during the fourth quarter worth about $98,767,000. First Trust Advisors LP raised its stake in Jackson Financial by 13.4% during the 4th quarter. First Trust Advisors LP now owns 4,134,545 shares of the company’s stock valued at $360,036,000 after acquiring an additional 487,803 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Jackson Financial by 286.5% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 566,916 shares of the company’s stock worth $49,367,000 after acquiring an additional 420,245 shares during the period. Raymond James Financial Inc. acquired a new stake in Jackson Financial during the 4th quarter worth approximately $27,193,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Jackson Financial by 40.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,050,903 shares of the company’s stock valued at $95,874,000 after purchasing an additional 300,520 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JXN has been the subject of a number of recent analyst reports. Barclays upped their price objective on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Evercore ISI cut Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their target price for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus price target of $97.40.

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.