12,500 Jackson Financial Inc. $JXN Shares Sold by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its Jackson Financial stake by 54.4% in the third quarter, selling 12,500 shares and retaining 10,468 shares valued at approximately $1.35 million.
• Jackson Financial reported quarterly EPS of $7.30, beating estimates of $5.72, while revenue reached $2 billion versus the $1.91 billion consensus forecast.
• The stock opened at $128.52, and analysts maintained a consensus “Hold” rating with an average price target of $134.20; the company also pays a $0.90 quarterly dividend, yielding about 2.8%.

State of Alaska Department of Revenue lessened its stake in Jackson Financial Inc. (NYSE:JXN - Free Report) by 54.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,468 shares of the company's stock after selling 12,500 shares during the period. State of Alaska Department of Revenue's holdings in Jackson Financial were worth $1,353,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Signature Equity Partners LLC bought a new position in Jackson Financial during the 1st quarter valued at $38,000. Root Financial Partners LLC increased its position in shares of Jackson Financial by 46.4% in the 1st quarter. Root Financial Partners LLC now owns 401 shares of the company's stock worth $42,000 after purchasing an additional 127 shares during the last quarter. Continuum Advisory LLC bought a new stake in shares of Jackson Financial in the 2nd quarter worth about $59,000. Allworth Financial LP raised its stake in shares of Jackson Financial by 22.7% in the 2nd quarter. Allworth Financial LP now owns 573 shares of the company's stock valued at $59,000 after purchasing an additional 106 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of Jackson Financial in the 1st quarter valued at about $78,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Stock Down 1.6%

Shares of NYSE:JXN opened at $128.52 on Tuesday. The company's fifty day moving average is $133.12 and its two-hundred day moving average is $119.38. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26. Jackson Financial Inc. has a 1-year low of $89.67 and a 1-year high of $140.90. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 5.02 and a beta of 1.31.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $7.30 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 analyst estimates of $1.91 billion.

Jackson Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 15th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, September 15th. Jackson Financial's payout ratio is presently 507.04%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on JXN shares. Evercore set a $135.00 price target on shares of Jackson Financial in a research report on Wednesday, August 5th. Barclays set a $151.00 price objective on Jackson Financial in a report on Thursday, October 8th. Wall Street Zen raised Jackson Financial from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Jefferies Financial Group upgraded Jackson Financial from a "hold" rating to a "buy" rating and upped their price objective for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $140.00 target price on shares of Jackson Financial in a report on Friday, September 18th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $134.20.

Insider Activity at Jackson Financial

In related news, CEO Christopher Raub sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total value of $653,450.00. Following the sale, the chief executive officer owned 42,160 shares of the company's stock, valued at approximately $5,509,890.40. This trade represents a 10.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Carrie Chelko sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total value of $1,006,800.00. Following the transaction, the executive vice president owned 80,914 shares of the company's stock, valued at $10,861,895.36. This represents a 8.48% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is currently owned by corporate insiders.

About Jackson Financial

Jackson Financial Inc is a U.S.-based financial services company focused on helping individuals and institutions pursue retirement security. Through its operating subsidiaries, the company develops and distributes annuity products designed to provide income, investment growth opportunities and protection against certain retirement-related risks.

Jackson's offerings include variable annuities, fixed annuities and fixed-indexed annuities, along with related retirement planning solutions.

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