Insider Buying: Jackson Financial Inc. (NYSE:JXN) Director Buys 3,000 Shares of Stock

Jackson Financial Inc. (NYSE:JXNGet Rating) Director Gregory T. Durant purchased 3,000 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were bought at an average cost of $29.10 per share, for a total transaction of $87,300.00. Following the acquisition, the director now owns 17,179 shares in the company, valued at $499,908.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

NYSE JXN traded up $1.04 on Friday, reaching $28.76. 65,331 shares of the stock were exchanged, compared to its average volume of 1,162,317. Jackson Financial Inc. has a one year low of $24.03 and a one year high of $47.76. The firm has a market capitalization of $2.48 billion and a PE ratio of 1.12. The company’s 50-day simple moving average is $37.87 and its two-hundred day simple moving average is $39.78. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.26.

Jackson Financial (NYSE:JXNGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $3.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.53 by ($0.59). The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $1.80 billion. Jackson Financial had a net margin of 29.79% and a return on equity of 20.22%. Sell-side analysts forecast that Jackson Financial Inc. will post 19.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 7.65%. The ex-dividend date of this dividend was Wednesday, June 1st. Jackson Financial’s dividend payout ratio (DPR) is presently 8.74%.

Several equities analysts have recently weighed in on JXN shares. Jefferies Financial Group lowered their price objective on shares of Jackson Financial from $55.00 to $45.00 in a research note on Monday, May 16th. Morgan Stanley increased their price objective on shares of Jackson Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Jackson Financial from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.40.

Several hedge funds have recently bought and sold shares of the stock. Apollo Management Holdings L.P. purchased a new position in shares of Jackson Financial in the fourth quarter valued at $439,049,000. Sessa Capital IM L.P. grew its holdings in shares of Jackson Financial by 5.8% in the fourth quarter. Sessa Capital IM L.P. now owns 4,759,038 shares of the company’s stock valued at $199,071,000 after purchasing an additional 260,301 shares in the last quarter. Dodge & Cox grew its holdings in shares of Jackson Financial by 1.1% in the fourth quarter. Dodge & Cox now owns 3,819,494 shares of the company’s stock valued at $159,769,000 after purchasing an additional 40,700 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Jackson Financial by 16.3% in the fourth quarter. BlackRock Inc. now owns 3,433,079 shares of the company’s stock valued at $143,607,000 after purchasing an additional 481,362 shares in the last quarter. Finally, LGT Capital Partners LTD. grew its holdings in shares of Jackson Financial by 31.7% in the fourth quarter. LGT Capital Partners LTD. now owns 2,107,500 shares of the company’s stock valued at $88,157,000 after purchasing an additional 506,792 shares in the last quarter. 81.17% of the stock is owned by hedge funds and other institutional investors.

Jackson Financial Company Profile (Get Rating)

Jackson Financial Inc, through its subsidiaries, primarily provides a 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 immediate payout annuities, as well as registered index-linked annuities and lifetime income solutions.

Further Reading

Insider Buying and Selling by Quarter for Jackson Financial (NYSE:JXN)

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