Jackson Financial Inc. (NYSE:JXN) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in Jackson Financial Inc. (NYSE:JXN) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,688 shares of the company’s stock after selling 966 shares during the quarter. Truist Financial Corp’s holdings in Jackson Financial were worth $1,165,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JXN. Hantz Financial Services Inc. purchased a new position in shares of Jackson Financial in the second quarter worth about $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Jackson Financial by 400.0% in the first quarter. EverSource Wealth Advisors LLC now owns 395 shares of the company’s stock worth $27,000 after purchasing an additional 316 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Jackson Financial by 47.0% in the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after purchasing an additional 154 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in shares of Jackson Financial in the first quarter worth about $66,000. Finally, CWM LLC raised its stake in shares of Jackson Financial by 80.5% in the second quarter. CWM LLC now owns 1,025 shares of the company’s stock worth $76,000 after purchasing an additional 457 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Stock Up 1.0 %

Jackson Financial stock opened at $99.01 on Monday. The stock has a market capitalization of $7.45 billion, a PE ratio of 3.66 and a beta of 1.50. Jackson Financial Inc. has a 12 month low of $36.06 and a 12 month high of $100.28. The business has a 50 day simple moving average of $86.97 and a 200-day simple moving average of $78.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30.

Jackson Financial (NYSE:JXN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $5.32 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $1.00. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.71 billion. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.34 earnings per share. On average, analysts anticipate that Jackson Financial Inc. will post 18.59 EPS for the current fiscal year.

Jackson Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Thursday, September 5th. Jackson Financial’s dividend payout ratio (DPR) is presently 10.34%.

Jackson Financial announced that its Board of Directors has initiated a share buyback program on Wednesday, August 7th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

JXN has been the subject of several research analyst reports. Evercore ISI reduced their price objective on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating for the company in a research note on Wednesday, June 26th. Morgan Stanley raised their price objective on Jackson Financial from $86.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Keefe, Bruyette & Woods lifted their price target on Jackson Financial from $80.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Barclays lifted their price target on Jackson Financial from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group lifted their price target on Jackson Financial from $73.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $80.33.

Insider Activity

In other news, EVP Carrie Chelko sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $91.31, for a total value of $502,205.00. Following the completion of the sale, the executive vice president now directly owns 61,829 shares in the company, valued at $5,645,605.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

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.