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In a recent regulatory filing, Jackson Financial Inc. (NYSE:JXN), a $5.9 billion financial services company currently trading at $80.50, reported that Executive Vice President and Chief Risk Officer, Christopher Raub, sold shares valued at $163,320. The transaction, which took place on March 10, involved the sale of 2,000 shares at a price of $81.66 each. According to InvestingPro analysis, the company appears undervalued, trading at an attractive P/E ratio of 7.2x.
The filing also detailed multiple acquisitions of shares through the vesting of restricted share units and performance share units. These transactions involved a total of 9,191.5 shares acquired at no cost. The filing highlighted a significant disposal of shares, with a total dollar value of $746,257, at a price of $81.19 per share, which were settled in cash. Notably, analysts maintain a positive outlook on the stock, with price targets ranging from $88 to $118.
Additionally, shares were withheld to cover tax obligations related to the vesting of restricted share units, amounting to $85,756. Raub was also granted 5,437 restricted share units, which will vest in three equal annual installments starting on the first anniversary of the grant date. InvestingPro subscribers can access 8 additional key insights about Jackson Financial, including detailed analysis of management’s share buyback strategy and the company’s strong financial health score.
In other recent news, Evercore ISI has maintained its Underperform rating on Jackson Financial, setting a price target of $98.00. This decision follows a review of the company’s recent call, where management discussed financial projections and concerns surrounding its subsidiary, Brooke Re. Despite positive free cash flow guidance for 2025, Evercore ISI highlighted concerns over Brooke Re’s complex risk profile and capital clarity. A significant actuarial charge of $419 million at Brooke Re was noted, linked to refined assumptions about customer behavior, particularly regarding guaranteed minimum withdrawal benefit utilization rates. This charge was unexpected, given the current high lapse rates of 13%, which exceed the long-term expectations of 8-9%. The analyst raised concerns over the potential for further impairment to Brooke Re’s minimum required buffer net assets if lapse rates do not decline. Additionally, there are questions about the impact of potential changes by the National Association of Insurance Commissioners to variable annuity statutory accounting in 2026. While Brooke Re benefits from certain permitted practices, it still needs to meet statutory and risk-based capital standards. Enhanced transparency in Brooke Re’s risk management could improve investor confidence and valuation of Jackson Financial’s free cash flow, according to Evercore ISI.
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