In a recent transaction, Devkumar Dilip Ganguly, the Executive Vice President and Chief Operating Officer of Jackson Financial Inc. (NYSE:JXN), sold 13,000 shares of the company's common stock. The sale, which took place on May 10, 2024, amounted to a total of $983,710, with the shares being sold at an average price of $75.67.
The price at which the shares were sold varied within a small range. The transactions occurred at prices between $75.51 and $76.02 per share. Following the sale, Ganguly continues to hold 93,404.85 shares of Jackson Financial Inc., indicating a continuing stake in the company's performance.
This sale by a high-ranking executive is a routine disclosure, and the exact details of the transactions, including the number of shares sold at each price point, are available upon request to interested parties, including Jackson Financial Inc. shareholders and the U.S. Securities and Exchange Commission.
Investors and market watchers often monitor insider trades like these for insights into a company's health and the confidence that executives have in their firm's future prospects. Jackson Financial, a life insurance company based in Lansing, Michigan, is known for its participation in the finance sector and is incorporated in Delaware.
The reported transaction was signed off by Kristan L. Richardson, as Attorney-in-Fact, on behalf of Ganguly, with the power of attorney on file.
Investors generally keep an eye on such filings for signs of executive confidence in the company, although such sales can be motivated by a variety of personal financial considerations.
InvestingPro Insights
As investors digest the recent insider sale by the Executive Vice President and Chief Operating Officer of Jackson Financial Inc. (NYSE:JXN), it's worth noting some key metrics and insights from InvestingPro that could provide a broader context to the company's current financial health and market performance.
According to InvestingPro, Jackson Financial Inc. is trading at a low earnings multiple with a P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 at just 1.81, suggesting the stock may be undervalued relative to its earnings. This aligns with an InvestingPro Tip highlighting that the company is trading at a low earnings multiple, potentially indicating an attractive entry point for value investors.
InvestingPro Data also shows that the company has a strong dividend yield of 3.7% as of the latest data, with a significant dividend growth of 12.9% in the last twelve months as of Q1 2024. This is in line with an InvestingPro Tip that Jackson Financial Inc. has raised its dividend for 3 consecutive years, reinforcing the company's commitment to returning value to shareholders.
Furthermore, the company's market capitalization stands at $5.77 billion, and despite a notable decline in revenue growth by -47.64% in the last twelve months as of Q1 2024, the stock has experienced substantial price total returns of 175.54% over the past year. This suggests that while the company faces challenges, its stock performance has been robust, which is supported by an InvestingPro Tip that notes a high return over the last year.
For those interested in further insights and metrics on Jackson Financial Inc., there are additional InvestingPro Tips available, providing deeper analysis and predictions for the company. To explore these tips and make more informed investment decisions, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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