Insider Buying: Durant Gregory T, Jackson Financial Inc. [JXN] Director invested 3,000 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Jackson Financial Inc. shares valued at $87,300 were purchased by Durant Gregory T on Jun 15. At $29.10 per share, Durant Gregory T acquired 3,000 shares. The insider’s holdings grew to 17,179 shares worth approximately $0.48 million following the completion of this transaction.


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Also, PRUDENTIAL PLC sold 4,200,000 shares, netting a total of over 171,318,000 in proceeds. Following the sale of shares at $40.79 each, the insider now holds 12,135,443 shares.

Before that, Myers Paul Chadwick had added 8,000 shares to its account. In a trade valued at $265,200, the Vice Chair, JHLLC bought Jackson Financial Inc. shares for $33.15 each. Upon closing the transaction, the insider’s holdings increased to 8,000 shares, worth approximately $10.7 million.

As published in their initiating research note from Jefferies on January 26, 2022, Jackson Financial Inc. [JXN] has been a Buy and the price target has been revised to $52. This represents a 46.33% premium over Thursday’s closing price. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early December. As of December 03, 2021, Goldman has initiated its “Neutral” rating for JXN.

Analyzing JXN’s Price Performance

On Thursday, Jackson Financial Inc. [NYSE: JXN] plunged -1.73% to $27.91. The stock’s lowest price that day was $27.88, but it reached a high of $28.93 in the same session. During the last five days, there has been a surge of approximately 3.18%. Over the course of the year, Jackson Financial Inc. shares have dropped approximately -33.28%. A 50-day SMA is recorded $28.76, while a 200-day SMA reached $36.20. Nevertheless, trading volume fell to 1.15 million shares from 0.72 million shares the previous day.

Support And Resistance Levels for Jackson Financial Inc. (JXN)

According to the 24-hour chart, there is a support level at 27.55, which, if violated, would cause prices to drop to 27.19. In the upper region, resistance lies at 28.60. The next price resistance is at 29.29. RSI (Relative Strength Index) is 54.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.14, which suggests the price will increase in the coming days. Percent R is at 23.29%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Jackson Financial Inc. subject to short interest?

Stocks of Jackson Financial Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.47 million shares to 7.51 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.04 million shares. A jump of 19.57% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.89 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.89.

Which companies own the most shares of Jackson Financial Inc. (JXN)?

According to The Vanguard Group, Inc. filings, the company currently owns 7,521,133 shares, which is about 8.72% of the total JXN shares outstanding. The investor’s shares have plunged by -360,754 from its previous 13-F filing of 7881887.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $135,170,960. Dodge & Cox reduced a -14.19% interest valued at $87.67 million while T. Rowe Price Associates, Inc. sold a -368,792 stake. A total of -144,604 shares of Jackson Financial Inc. were sold by BlackRock Fund Advisors during the quarter, and 1,683,720 were bought by EJF Capital LLC. In its current portfolio, Allspring Global Investments LLC holds 1,565,663 shares valued at $41.88 million.

In terms of Jackson Financial Inc. share price expectations, FactSet research, analysts set an average price target of $34.20 in the next 12 months, up nearly 16.2% from the previous closing price of $28.40. Analysts anticipate Jackson Financial Inc. stock to reach $38.00 by 2022, with the lowest price target being $32.00. In spite of this, 5 analysts ranked Jackson Financial Inc. stock as a Hold at the end of 2022.

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