Jackson Financial (NYSE:JXN) Trading Down 8.7% After Earnings Miss

Jackson Financial Inc. (NYSE:JXN) shares fell 8.7% on Thursday following a dissappointing earnings announcement. The stock traded as low as $85.30 and last traded at $85.45. 315,972 shares were traded during trading, a decline of 41% from the average session volume of 532,186 shares. The stock had previously closed at $93.58.

The company reported $4.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.72 by ($0.07). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion.

Jackson Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, March 11th. This is an increase from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 annualized dividend and a yield of 3.92%. Jackson Financial’s dividend payout ratio is 24.45%.

Analysts Set New Price Targets

JXN has been the topic of several recent analyst reports. Evercore ISI downgraded Jackson Financial from an “in-line” rating to an “underperform” rating and increased their target price for the stock from $74.00 to $95.00 in a research report on Thursday, November 14th. Barclays upped their price target on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Jackson Financial has an average rating of “Hold” and an average target price of $92.80.

Insiders Place Their Bets

In related news, Director Gregory T. Durant bought 1,500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $90.28 per share, for a total transaction of $135,420.00. Following the completion of the purchase, the director now owns 32,023 shares in the company, valued at $2,891,036.44. This represents a 4.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Jackson Financial

A number of large investors have recently modified their holdings of JXN. CWM LLC grew its stake in shares of Jackson Financial by 62.0% in the third quarter. CWM LLC now owns 1,660 shares of the company’s stock valued at $151,000 after buying an additional 635 shares in the last quarter. Creative Planning grew its stake in shares of Jackson Financial by 10.2% in the third quarter. Creative Planning now owns 4,041 shares of the company’s stock valued at $369,000 after buying an additional 373 shares in the last quarter. Blue Trust Inc. grew its stake in Jackson Financial by 232.1% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $34,000 after purchasing an additional 260 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Jackson Financial during the 3rd quarter valued at approximately $244,000. Finally, Private Advisor Group LLC grew its stake in Jackson Financial by 10.5% during the 3rd quarter. Private Advisor Group LLC now owns 16,537 shares of the company’s stock valued at $1,509,000 after purchasing an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Jackson Financial Trading Down 4.4 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.30 and a current ratio of 0.30. The business has a fifty day simple moving average of $90.93 and a 200 day simple moving average of $92.65. The company has a market cap of $6.03 billion, a P/E ratio of 7.13 and a beta of 1.47.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides 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.