Raymond James Financial Services Advisors Inc. Sells 8,071 Shares of Jackson Financial Inc. (NYSE:JXN)

Posted by Defense World Staff on Oct 26th, 2023

Raymond James Financial Services Advisors Inc. reduced its position in shares of Jackson Financial Inc. (NYSE:JXN – Free Report) by 13.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,485 shares of the company’s stock after selling 8,071 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.06% of Jackson Financial worth $1,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Jackson Financial by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 92,635 shares of the company’s stock worth $4,098,000 after acquiring an additional 662 shares during the period. Raymond James & Associates increased its stake in shares of Jackson Financial by 19.5% during the first quarter. Raymond James & Associates now owns 34,968 shares of the company’s stock valued at $1,547,000 after buying an additional 5,699 shares during the period. Sei Investments Co. bought a new stake in shares of Jackson Financial in the 1st quarter valued at about $346,000. Canada Pension Plan Investment Board bought a new position in Jackson Financial in the first quarter worth approximately $402,000. Finally, Penserra Capital Management LLC purchased a new position in Jackson Financial in the first quarter valued at about $108,000. 79.20% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Don W. Cummings sold 1,555 shares of Jackson Financial stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $38.12, for a total transaction of $59,276.60. Following the completion of the sale, the chief accounting officer now owns 24,300 shares in the company, valued at approximately $926,316. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Jackson Financial news, CAO Don W. Cummings sold 1,555 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $38.12, for a total transaction of $59,276.60. Following the sale, the chief accounting officer now directly owns 24,300 shares of the company’s stock, valued at approximately $926,316. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Romine sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $39.67, for a total transaction of $198,350.00. Following the completion of the transaction, the chief executive officer now directly owns 72,435 shares of the company’s stock, valued at approximately $2,873,496.45. The disclosure for this sale can be found here. Insiders have sold 11,555 shares of company stock worth $432,977 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Jackson Financial Stock Performance

NYSE:JXN opened at $38.65 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $3.17 billion, a P/E ratio of 8.69 and a beta of 1.38. The firm has a 50-day moving average price of $37.80 and a two-hundred day moving average price of $34.13. Jackson Financial Inc. has a twelve month low of $26.70 and a twelve month high of $49.60.

Jackson Financial (NYSE:JXN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.44). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the business posted $2.52 earnings per share. Jackson Financial’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, research analysts expect that Jackson Financial Inc. will post 13.8 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were issued a $0.62 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 6.42%. Jackson Financial’s dividend payout ratio (DPR) is 55.73%.

Analysts Set New Price Targets

JXN has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on Jackson Financial from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. TheStreet raised shares of Jackson Financial from a “d+” rating to a “c-” rating in a research report on Monday, August 14th. Finally, Morgan Stanley lifted their price objective on Jackson Financial from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, August 18th.

Check Out Our Latest Stock Analysis on Jackson Financial

Jackson Financial Company Profile

(Free Report)

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 payout annuities, as well as registered index-linked annuities and lifetime income solutions.