Jackson Financial Inc. $JXN Position Lowered by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its Jackson Financial stake by 72.7% in the second quarter, selling 8,834 shares and retaining 3,309 shares valued at approximately $339,000. Institutional investors collectively own nearly 90% of JXN.
• Jackson Financial reported strong quarterly results, with EPS of $7.30 versus the $5.72 consensus and revenue of $2 billion, ahead of expectations. The company also declared a $0.90 quarterly dividend, equivalent to a 2.7% yield.
• Analyst sentiment remains moderately positive, with an average rating of “Moderate Buy” and a $133.80 target price; however, CEO Christopher Raub and EVP Carrie Chelko recently sold company shares.

Corient Private Wealth LP trimmed its holdings in Jackson Financial Inc. (NYSE:JXN - Free Report) by 72.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,309 shares of the company's stock after selling 8,834 shares during the quarter. Corient Private Wealth LP's holdings in Jackson Financial were worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of JXN. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Jackson Financial in the second quarter worth approximately $3,895,000. HB Wealth Management LLC boosted its stake in shares of Jackson Financial by 13.8% in the 2nd quarter. HB Wealth Management LLC now owns 2,829 shares of the company's stock worth $290,000 after buying an additional 342 shares during the last quarter. Nilsine Partners LLC grew its holdings in shares of Jackson Financial by 9.7% in the second quarter. Nilsine Partners LLC now owns 7,420 shares of the company's stock worth $760,000 after acquiring an additional 654 shares during the period. Asset Allocation Strategies LLC increased its position in Jackson Financial by 8.2% during the second quarter. Asset Allocation Strategies LLC now owns 23,623 shares of the company's stock valued at $2,419,000 after acquiring an additional 1,788 shares during the last quarter. Finally, William John Sempolinski purchased a new position in Jackson Financial in the second quarter worth about $2,222,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Jackson Financial Trading Up 1.4%

JXN opened at $131.32 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.26 and a current ratio of 0.26. The stock's 50 day moving average price is $132.22 and its 200-day moving average price is $117.21. Jackson Financial Inc. has a one year low of $89.67 and a one year high of $140.90. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 184.96 and a beta of 1.31.

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

Jackson Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Tuesday, September 15th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Jackson Financial's dividend payout ratio (DPR) is currently 507.04%.

Analyst Ratings Changes

Several research firms have weighed in on JXN. Jefferies Financial Group upgraded shares of Jackson Financial from a "hold" rating to a "buy" rating and increased their price target for the stock from $120.00 to $140.00 in a research report on Friday, July 10th. Evercore set a $135.00 price target on Jackson Financial in a report on Wednesday, August 5th. Barclays boosted their price target on Jackson Financial from $139.00 to $149.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Wall Street Zen raised Jackson Financial from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $140.00 price objective on shares of Jackson Financial in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $133.80.

Insider Activity

In other news, CEO Christopher Raub sold 5,000 shares of Jackson Financial stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $130.69, for a total transaction of $653,450.00. Following the completion of the sale, the chief executive officer owned 42,160 shares of the company's stock, valued at approximately $5,509,890.40. The trade was a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the sale, the executive vice president 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 disclosure for this sale is available in the SEC filing. Company insiders own 1.40% of the company's stock.

Jackson Financial Company Profile

Jackson Financial Inc is a financial services company focused on retirement products and services in the United States. Through its subsidiaries, the company primarily develops and distributes annuities designed to help individuals accumulate, protect and generate income from retirement savings.

Jackson's product offerings include variable annuities, fixed annuities, fixed indexed annuities and registered index-linked annuities. Its products are distributed primarily through financial professionals, including independent advisors, broker-dealers, banks and registered investment advisors.

The company traces its history to Jackson National Life Insurance Company, which was established in 1961.

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