Plc Prudential Sells 4,200,000 Shares of Jackson Financial Inc. (NYSE:JXN) Stock
Jackson Financial Inc. (NYSE:JXN – Get Rating) major shareholder Plc Prudential sold 4,200,000 shares of Jackson Financial stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $40.79, for a total transaction of $171,318,000.00. Following the completion of the sale, the insider now owns 12,135,443 shares in the company, valued at approximately $495,004,719.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
NYSE:JXN opened at $28.29 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $2.44 billion and a price-to-earnings ratio of 1.12. The company’s 50-day moving average is $38.15 and its two-hundred day moving average is $39.86. Jackson Financial Inc. has a 1-year low of $24.03 and a 1-year high of $47.76.
Jackson Financial (NYSE:JXN – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $3.94 earnings per share for the quarter, missing the consensus estimate of $4.53 by ($0.59). The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $1.80 billion. Jackson Financial had a net margin of 29.79% and a return on equity of 20.22%. As a group, equities analysts anticipate that Jackson Financial Inc. will post 19.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $2.20 annualized dividend and a yield of 7.78%. Jackson Financial’s payout ratio is 8.74%.
A number of equities analysts recently weighed in on JXN shares. Jefferies Financial Group lowered their price target on shares of Jackson Financial from $55.00 to $45.00 in a research report on Monday, May 16th. The Goldman Sachs Group lowered their price target on shares of Jackson Financial from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 6th. Finally, Morgan Stanley boosted their price target on shares of Jackson Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 3rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.40.
A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in Jackson Financial by 11.5% in the 1st quarter. Bank of America Corp DE now owns 178,493 shares of the company’s stock valued at $7,895,000 after purchasing an additional 18,434 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Jackson Financial in the 1st quarter valued at approximately $434,000. Mirabella Financial Services LLP raised its stake in shares of Jackson Financial by 6.7% in the 1st quarter. Mirabella Financial Services LLP now owns 9,253 shares of the company’s stock valued at $409,000 after acquiring an additional 585 shares during the period. Royal Bank of Canada raised its stake in shares of Jackson Financial by 124.0% in the 1st quarter. Royal Bank of Canada now owns 49,027 shares of the company’s stock valued at $2,168,000 after acquiring an additional 27,138 shares during the period. Finally, Delphia USA Inc. purchased a new stake in shares of Jackson Financial in the 1st quarter valued at approximately $557,000. Institutional investors own 81.17% of the company’s stock.
About Jackson Financial (Get Rating)
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.
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