Price T Rowe Associates Inc. MD Sells 629,850 Shares of Jackson Financial Inc. (NYSE:JXN)

Price T Rowe Associates Inc. MD lowered its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 20.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,466,990 shares of the company’s stock after selling 629,850 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.19% of Jackson Financial worth $163,168,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its position in Jackson Financial by 47.0% during the first quarter. GAMMA Investing LLC now owns 482 shares of the company’s stock worth $32,000 after acquiring an additional 154 shares during the period. Daiwa Securities Group Inc. bought a new position in Jackson Financial during the fourth quarter worth $36,000. Headlands Technologies LLC bought a new position in Jackson Financial during the fourth quarter worth $38,000. Valued Wealth Advisors LLC bought a new position in Jackson Financial during the first quarter worth $66,000. Finally, Kapitalo Investimentos Ltda bought a new position in Jackson Financial during the fourth quarter worth $57,000. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI lowered their price target on shares of Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a report on Wednesday, June 26th. Jefferies Financial Group boosted their price target on shares of Jackson Financial from $62.00 to $70.00 and gave the company a “hold” rating in a report on Friday, June 28th. Morgan Stanley boosted their price target on shares of Jackson Financial from $82.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods lowered shares of Jackson Financial from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $75.00 to $80.00 in a report on Tuesday, May 14th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $70.80.

Jackson Financial Price Performance

Shares of NYSE:JXN traded down $0.57 on Monday, hitting $87.27. The stock had a trading volume of 129,210 shares, compared to its average volume of 746,691. Jackson Financial Inc. has a twelve month low of $31.40 and a twelve month high of $88.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.32 and a current ratio of 0.32. The firm’s 50 day moving average price is $76.32 and its 200-day moving average price is $66.01. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 2.32 and a beta of 1.51.

Jackson Financial (NYSE:JXN) last issued its earnings results on Wednesday, May 8th. The company reported $4.23 EPS for the quarter, beating the consensus estimate of $3.67 by $0.56. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm posted $3.15 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts predict that Jackson Financial Inc. will post 17.33 earnings per share for the current year.

Jackson Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $2.80 annualized dividend and a dividend yield of 3.21%. Jackson Financial’s dividend payout ratio is presently 7.40%.

Insider Activity

In related news, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the transaction, the chief operating officer now owns 93,405 shares in the company, valued at approximately $7,067,956.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Devkumar Dilip Ganguly sold 13,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the transaction, the chief operating officer now owns 93,405 shares in the company, valued at approximately $7,067,956.35. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Don W. Cummings purchased 1,445 shares of Jackson Financial stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average price of $72.70 per share, for a total transaction of $105,051.50. Following the transaction, the chief financial officer now owns 45,711 shares in the company, valued at $3,323,189.70. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

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.