Insider Selling: Jackson Financial (NYSE:JXN) EVP Sells $1,006,800.00 in Stock

Key Points

• Jackson Financial EVP Carrie Chelko sold 7,500 shares at an average price of $134.24, generating approximately $1.01 million. She retained 80,914 shares after the transaction, an 8.48% reduction in her direct ownership.
• JXN shares fell 0.9% to $133.30, despite the company reporting quarterly earnings of $7.30 per share—beating analyst expectations by $1.58—and revenue of $2 billion.
• Jackson Financial declared a quarterly dividend of $0.90 per share, representing a $3.60 annualized payout and a 2.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $133.80.

Jackson Financial Inc. (NYSE:JXN - Get Free Report) EVP Carrie Chelko sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $134.24, for a total value of $1,006,800.00. Following the sale, the executive vice president directly owned 80,914 shares of the company's stock, valued at $10,861,895.36. This represents a 8.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Jackson Financial Stock Down 0.9%

Shares of NYSE:JXN traded down $1.26 during mid-day trading on Thursday, hitting $133.30. 452,115 shares of the company traded hands, compared to its average volume of 619,555. The stock has a 50-day moving average price of $113.14 and a two-hundred day moving average price of $111.37. Jackson Financial Inc. has a 12-month low of $88.20 and a 12-month high of $137.99. The stock has a market cap of $9.30 billion, a P/E ratio of 187.75 and a beta of 1.30. 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 - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $7.30 earnings per share for the quarter, beating the consensus estimate of $5.72 by $1.58. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.91 billion. Jackson Financial had a return on equity of 18.93% and a net margin of 1.59%.

Jackson Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.90 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.60 annualized dividend and a yield of 2.7%. Jackson Financial's payout ratio is 507.04%.

Wall Street Analysts Forecast Growth

JXN has been the subject of a number of recent analyst reports. Evercore set a $135.00 target price on Jackson Financial in a research report on Wednesday. Weiss Ratings upgraded Jackson Financial from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. Wall Street Zen lowered Jackson Financial from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Jefferies Financial Group upgraded Jackson Financial from a "hold" rating to a "buy" rating and boosted their price objective for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Jackson Financial from $130.00 to $140.00 and gave the stock a "market perform" rating in a research report on Wednesday. One research 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 stock. Based on data from MarketBeat.com, Jackson Financial has a consensus rating of "Moderate Buy" and an average price target of $133.80.

Hedge Funds Weigh In On Jackson Financial

Several hedge funds have recently made changes to their positions in JXN. Allworth Financial LP grew its holdings in Jackson Financial by 404.0% during the 3rd quarter. Allworth Financial LP now owns 252 shares of the company's stock valued at $26,000 after buying an additional 202 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Jackson Financial by 79.9% in the fourth quarter. Rothschild Investment LLC now owns 322 shares of the company's stock valued at $34,000 after acquiring an additional 143 shares during the period. Plato Investment Management Ltd bought a new position in shares of Jackson Financial in the fourth quarter valued at approximately $35,000. Advisory Services Network LLC purchased a new position in Jackson Financial during the third quarter valued at approximately $37,000. Finally, Signature Equity Partners LLC purchased a new position in Jackson Financial during the first quarter valued at approximately $38,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

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