abrdn plc trimmed its stake in Jackson Financial Inc. (NYSE:JXN – Get Rating) by 48.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,323 shares of the company’s stock after selling 5,982 shares during the quarter. abrdn plc’s holdings in Jackson Financial were worth $281,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Kestra Advisory Services LLC boosted its holdings in Jackson Financial by 2.6% in the first quarter. Kestra Advisory Services LLC now owns 16,498 shares of the company’s stock worth $730,000 after acquiring an additional 423 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Jackson Financial by 41.9% during the first quarter. FNY Investment Advisers LLC now owns 1,839 shares of the company’s stock valued at $81,000 after purchasing an additional 543 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Jackson Financial by 9.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 15,693 shares of the company’s stock valued at $656,000 after purchasing an additional 1,340 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Jackson Financial by 44.4% during the first quarter. SG Americas Securities LLC now owns 6,190 shares of the company’s stock valued at $274,000 after purchasing an additional 1,902 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Jackson Financial during the first quarter valued at $88,000. 81.17% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Jackson Financial news, Director Gregory T. Durant bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was purchased at an average price of $29.10 per share, for a total transaction of $87,300.00. Following the completion of the transaction, the director now owns 17,179 shares of the company’s stock, valued at approximately $499,908.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Carrie Chelko purchased 3,344 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The stock was bought at an average cost of $29.91 per share, with a total value of $100,019.04. Following the completion of the purchase, the executive vice president now owns 49,599 shares in the company, valued at $1,483,506.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory T. Durant purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were purchased at an average cost of $29.10 per share, with a total value of $87,300.00. Following the completion of the purchase, the director now owns 17,179 shares of the company’s stock, valued at approximately $499,908.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 34,244 shares of company stock worth $1,065,798.
Analyst Upgrades and Downgrades
Jackson Financial Stock Performance
Shares of JXN opened at $28.40 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $28.73 and a two-hundred day simple moving average of $36.56. The stock has a market cap of $2.45 billion and a price-to-earnings ratio of 1.13. Jackson Financial Inc. has a 52 week low of $23.56 and a 52 week high of $47.76.
Jackson Financial (NYSE:JXN – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $3.94 EPS for the quarter, missing analysts’ consensus estimates of $4.53 by ($0.59). Jackson Financial had a return on equity of 20.22% and a net margin of 29.79%. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $1.80 billion. On average, analysts expect that Jackson Financial Inc. will post 13.63 EPS for the current year.
Jackson Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 7.75%. The ex-dividend date was Wednesday, June 1st. Jackson Financial’s dividend payout ratio is currently 8.74%.
Jackson Financial Profile
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.
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