Don W. Cummings Buys 1,445 Shares of Jackson Financial Inc. (NYSE:JXN) Stock

Jackson Financial Inc. (NYSE:JXNGet Free Report) CFO Don W. Cummings acquired 1,445 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the completion of the acquisition, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Jackson Financial Trading Up 0.9 %

JXN opened at $73.15 on Friday. The firm’s 50 day moving average is $71.28 and its 200-day moving average is $59.29. Jackson Financial Inc. has a 52-week low of $28.57 and a 52-week high of $81.52. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $5.58 billion, a P/E ratio of 1.93 and a beta of 1.54.

Jackson Financial (NYSE:JXNGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.67 billion. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.15 EPS. Analysts expect that Jackson Financial Inc. will post 16.98 EPS for the current fiscal year.

Jackson Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Thursday, June 6th. Jackson Financial’s payout ratio is 7.40%.

Analyst Upgrades and Downgrades

JXN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut shares of Jackson Financial from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $75.00 to $80.00 in a research report on Tuesday, May 14th. Evercore ISI lifted their target price on shares of Jackson Financial from $55.00 to $62.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Morgan Stanley increased their price target on Jackson Financial from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.80.

Read Our Latest Stock Analysis on JXN

Hedge Funds Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently made changes to their positions in JXN. Hsbc Holdings PLC boosted its stake in shares of Jackson Financial by 45,699.9% during the 3rd quarter. Hsbc Holdings PLC now owns 3,241,261 shares of the company’s stock valued at $124,043,000 after buying an additional 3,234,184 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Jackson Financial by 16.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,933,228 shares of the company’s stock valued at $417,868,000 after buying an additional 1,518,547 shares during the last quarter. Norges Bank purchased a new position in shares of Jackson Financial during the 4th quarter valued at approximately $51,189,000. Donald Smith & CO. Inc. boosted its stake in shares of Jackson Financial by 36.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,979,189 shares of the company’s stock valued at $101,334,000 after buying an additional 528,976 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Jackson Financial during the 3rd quarter valued at approximately $19,485,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Company Profile

(Get Free Report)

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.

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