Covestor Ltd Sells 903 Shares of Jackson Financial Inc. (NYSE:JXN)

Covestor Ltd trimmed its stake in shares of Jackson Financial Inc. (NYSE:JXN) by 25.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,609 shares of the company’s stock after selling 903 shares during the quarter. Covestor Ltd’s holdings in Jackson Financial were worth $173,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted 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 purchasing an additional 154 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Jackson Financial during the 4th quarter worth approximately $36,000. Headlands Technologies LLC acquired a new stake in shares of Jackson Financial during the 4th quarter worth approximately $38,000. Kapitalo Investimentos Ltda bought a new position in Jackson Financial in the fourth quarter valued at approximately $57,000. Finally, Hexagon Capital Partners LLC raised its position in Jackson Financial by 113.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,297 shares of the company’s stock valued at $66,000 after purchasing an additional 688 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Devkumar Dilip Ganguly sold 13,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.67, for a total transaction of $983,710.00. Following the completion of the transaction, the chief operating officer now directly owns 93,405 shares of the company’s stock, valued at approximately $7,067,956.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Jackson Financial news, COO Devkumar Dilip Ganguly sold 13,000 shares of the 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 completion of the transaction, the chief operating officer now owns 93,405 shares in the company, valued at $7,067,956.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Don W. Cummings purchased 1,445 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost 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 of the company’s stock, valued at $3,323,189.70. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

JXN has been the topic of several recent analyst reports. Evercore ISI decreased their price target on Jackson Financial from $75.00 to $73.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group lifted their target price on Jackson Financial from $62.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, June 28th. Keefe, Bruyette & Woods cut shares of Jackson Financial from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a report on Tuesday, May 14th. Finally, Morgan Stanley boosted their price objective on Jackson Financial from $82.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Jackson Financial currently has an average rating of “Hold” and an average target price of $70.80.

Jackson Financial Stock Up 1.6 %

Shares of Jackson Financial stock traded up $1.32 during trading hours on Tuesday, reaching $85.42. The company’s stock had a trading volume of 166,179 shares, compared to its average volume of 745,995. 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 stock’s fifty day simple moving average is $75.58 and its two-hundred day simple moving average is $65.01. The company has a market capitalization of $6.51 billion, a P/E ratio of 2.24 and a beta of 1.51. Jackson Financial Inc. has a one year low of $31.40 and a one year high of $85.48.

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

Jackson Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $2.80 annualized dividend and a yield of 3.28%. Jackson Financial’s dividend payout ratio is currently 7.40%.

Jackson Financial 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.