Scott Romine Sells 7,000 Shares of Jackson Financial Inc. (NYSE:JXN) Stock

Jackson Financial Inc. (NYSE:JXN) CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $84.43, for a total transaction of $591,010.00. Following the sale, the chief executive officer now owns 85,276 shares in the company, valued at approximately $7,199,852.68. This represents a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jackson Financial Price Performance

Jackson Financial stock traded down $3.22 during mid-day trading on Monday, hitting $81.26. The company’s stock had a trading volume of 1,075,667 shares, compared to its average volume of 679,512. The stock has a market capitalization of $6.00 billion, a P/E ratio of 7.10 and a beta of 1.48. Jackson Financial Inc. has a twelve month low of $58.02 and a twelve month high of $115.22. The stock’s fifty day moving average price is $90.46 and its two-hundred day moving average price is $93.02. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last announced its earnings results on Wednesday, February 19th. The company reported $4.65 EPS for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. Research analysts forecast that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.94%. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. Jackson Financial’s payout ratio is currently 27.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on JXN. Barclays upped their price target on shares of Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods increased their price target on Jackson Financial from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Friday, February 28th. Finally, Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $74.00 to $95.00 in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Jackson Financial presently has a consensus rating of “Hold” and a consensus target price of $97.40.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in JXN. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Jackson Financial in the fourth quarter worth $12,852,000. Ameriflex Group Inc. acquired a new stake in Jackson Financial during the 4th quarter worth about $250,000. Mackenzie Financial Corp grew its stake in Jackson Financial by 80.0% during the 4th quarter. Mackenzie Financial Corp now owns 30,732 shares of the company’s stock valued at $2,676,000 after acquiring an additional 13,656 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of Jackson Financial by 27.9% in the 4th quarter. Forum Financial Management LP now owns 3,447 shares of the company’s stock valued at $300,000 after purchasing an additional 752 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Jackson Financial in the fourth quarter worth approximately $3,604,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Jackson Financial Company Profile

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.