Devkumar Dilip Ganguly Sells 13,500 Shares of Jackson Financial Inc. (NYSE:JXN) Stock

Jackson Financial Inc. (NYSE:JXN – Get Rating) COO Devkumar Dilip Ganguly sold 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $36.57, for a total value of $493,695.00. Following the completion of the transaction, the chief operating officer now owns 124,412 shares in the company, valued at approximately $4,549,746.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Jackson Financial Price Performance

Jackson Financial stock opened at $34.79 on Friday. Jackson Financial Inc. has a 12 month low of $23.56 and a 12 month high of $49.60. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48. The business’s 50 day simple moving average is $42.58 and its 200 day simple moving average is $36.88. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 0.55 and a beta of 1.67.

Jackson Financial (NYSE:JXN – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $5.66 EPS for the quarter, beating the consensus estimate of $5.39 by $0.27. Jackson Financial had a return on equity of 14.63% and a net margin of 42.47%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the business earned $7.48 earnings per share. Jackson Financial’s revenue for the quarter was down 10.9% on a year-over-year basis. Sell-side analysts forecast that Jackson Financial Inc. will post 17.13 EPS for the current year.

Jackson Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Tuesday, March 14th will be paid a $0.62 dividend. This is an increase from Jackson Financial’s previous quarterly dividend of $0.55. The ex-dividend date is Monday, March 13th. This represents a $2.48 annualized dividend and a yield of 7.13%. Jackson Financial’s dividend payout ratio is presently 3.91%.

Wall Street Analysts Forecast Growth

JXN has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Jackson Financial from $46.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Morgan Stanley boosted their target price on Jackson Financial from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors have recently bought and sold shares of JXN. Spire Wealth Management lifted its stake in Jackson Financial by 77.3% in the fourth quarter. Spire Wealth Management now owns 709 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Private Trust Co. NA purchased a new stake in shares of Jackson Financial during the fourth quarter worth $26,000. National Bank of Canada FI lifted its position in shares of Jackson Financial by 1,087.9% during the third quarter. National Bank of Canada FI now owns 1,081 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Jackson Financial by 199.8% during the third quarter. Federated Hermes Inc. now owns 1,382 shares of the company’s stock worth $38,000 after acquiring an additional 921 shares in the last quarter. Finally, Money Concepts Capital Corp purchased a new stake in shares of Jackson Financial during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 82.40% of the company’s stock.

About Jackson Financial

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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.