Jackson Financial (NYSE:JXN) Shares Down 4.3% – Here’s What Happened

Shares of Jackson Financial Inc. (NYSE:JXN) dropped 4.3% during trading on Thursday . The company traded as low as $128.87 and last traded at $131.2470. Approximately 480,279 shares were traded during trading, a decline of 21% from the average session volume of 609,357 shares. The stock had previously closed at $137.10.

Analyst Ratings Changes

A number of analysts have recently issued reports on JXN shares. Barclays raised their target price on shares of Jackson Financial from $139.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods increased their target price on Jackson Financial from $130.00 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Jefferies Financial Group upgraded Jackson Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $120.00 to $140.00 in a research note on Friday, July 10th. Wall Street Zen upgraded Jackson Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised Jackson Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Jackson Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.80.

Jackson Financial Stock Performance

The stock has a 50 day moving average of $129.86 and a 200 day moving average of $115.45. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.53. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 183.04 and a beta of 1.30.

Jackson Financial (NYSE:JXN) last released its earnings results on Monday, August 3rd. The company reported $7.30 EPS for the quarter, beating the consensus estimate of $5.72 by $1.58. Jackson Financial had a net margin of 1.59% and a return on equity of 18.93%. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.91 billion.

Jackson Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 15th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Jackson Financial’s dividend payout ratio is presently 507.04%.

Insider Buying and Selling

In other news, EVP Carrie Chelko sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $134.24, for a total value of $1,006,800.00. Following the transaction, the executive vice president owned 80,914 shares in the company, valued at approximately $10,861,895.36. The trade was a 8.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Raub sold 5,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $130.69, for a total value of $653,450.00. Following the sale, the chief executive officer owned 42,160 shares of the company’s stock, valued at approximately $5,509,890.40. The trade was a 10.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Jackson Financial

Several institutional investors have recently added to or reduced their stakes in JXN. Dimensional Fund Advisors LP lifted its position in shares of Jackson Financial by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,060,350 shares of the company’s stock valued at $429,240,000 after acquiring an additional 18,740 shares during the period. Donald Smith & CO. Inc. acquired a new position in Jackson Financial during the second quarter worth $183,186,000. Hsbc Holdings PLC lifted its position in Jackson Financial by 16.5% in the 4th quarter. Hsbc Holdings PLC now owns 1,550,942 shares of the company’s stock valued at $166,476,000 after acquiring an additional 220,095 shares in the last quarter. Norges Bank acquired a new position in Jackson Financial during the 4th quarter valued at about $129,878,000. Finally, Bank of New York Mellon Corp increased its holdings in Jackson Financial by 2.8% during the 1st quarter. Bank of New York Mellon Corp now owns 910,853 shares of the company’s stock worth $96,295,000 after purchasing an additional 24,747 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Jackson Financial Company Profile

Jackson Financial Inc (NYSE:JXN) is a U.S.-based financial services company focused on providing retirement income solutions. Through its insurance subsidiaries, the company primarily develops and distributes annuity products designed to help individuals accumulate retirement savings and generate income during retirement.

Jackson’s product portfolio includes variable annuities, fixed annuities and registered index-linked annuities. Its offerings are distributed through financial professionals and other intermediary channels, serving individuals and institutions seeking tax-deferred retirement accumulation, income planning and related financial solutions.

Headquartered in Lansing, Michigan, Jackson primarily serves customers in the United States through Jackson National Life Insurance Company and related entities, including Jackson National Life Insurance Company of New York.