Jackson Financial Inc. (NYSE:JXN) Short Interest Down 11.5% in October

Jackson Financial Inc. (NYSE:JXN) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,550,000 shares, a decrease of 11.5% from the October 15th total of 5,140,000 shares. Based on an average trading volume of 1,220,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 6.2% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of brokerages have issued reports on JXN. Jefferies Financial Group raised their target price on Jackson Financial from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, September 14th. TheStreet upgraded shares of Jackson Financial from a “d+” rating to a “c-” rating in a report on Monday, August 14th. Finally, Morgan Stanley upped their target price on shares of Jackson Financial from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday.

Insider Activity

In other Jackson Financial news, CAO Don W. Cummings sold 1,555 shares of the business’s 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 directly owns 24,300 shares of the company’s stock, valued at approximately $926,316. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Jackson Financial news, CAO Don W. Cummings sold 1,555 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $38.12, for a total value of $59,276.60. Following the transaction, the chief accounting officer now directly owns 24,300 shares of the company’s stock, valued at $926,316. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott Romine sold 5,000 shares of Jackson Financial stock in a transaction on Monday, October 16th. The stock was sold at an average price of $39.67, for a total transaction of $198,350.00. Following the sale, 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. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jackson Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Jackson Financial by 11.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,989 shares of the company’s stock valued at $1,608,000 after purchasing an additional 4,543 shares during the period. Carson Advisory Inc. boosted its position in Jackson Financial by 6.2% during the 2nd quarter. Carson Advisory Inc. now owns 42,675 shares of the company’s stock worth $1,306,000 after acquiring an additional 2,498 shares during the last quarter. Convergence Investment Partners LLC grew its stake in shares of Jackson Financial by 11.5% during the 1st quarter. Convergence Investment Partners LLC now owns 5,371 shares of the company’s stock worth $201,000 after acquiring an additional 554 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Jackson Financial by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 813,130 shares of the company’s stock worth $24,890,000 after acquiring an additional 34,635 shares in the last quarter. Finally, Hudson Value Partners LLC lifted its position in shares of Jackson Financial by 2.0% in the second quarter. Hudson Value Partners LLC now owns 114,790 shares of the company’s stock worth $3,513,000 after purchasing an additional 2,235 shares in the last quarter. 79.20% of the stock is currently owned by institutional investors and hedge funds.

Jackson Financial Trading Up 1.4 %

NYSE:JXN traded up $0.63 on Friday, reaching $45.74. The company’s stock had a trading volume of 670,332 shares, compared to its average volume of 1,086,133. The firm has a market cap of $3.75 billion, a PE ratio of 2.18 and a beta of 1.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The business’s 50-day moving average price is $39.35 and its two-hundred day moving average price is $34.62. Jackson Financial has a 1-year low of $26.70 and a 1-year high of $49.60.

Jackson Financial (NYSE:JXN) last posted its earnings results on Wednesday, November 8th. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.23. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the company posted $4.24 earnings per share. Equities research analysts anticipate that Jackson Financial will post 14 earnings per share for the current fiscal year.

Jackson Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Wednesday, November 29th. Jackson Financial’s dividend payout ratio is 11.83%.

Jackson Financial Company Profile

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.