Jackson Financial (NYSE:JXN) Shares Gap Down – Here’s Why

Shares of Jackson Financial Inc. (NYSE:JXN) gapped down before the market opened on Monday . The stock had previously closed at $82.76, but opened at $80.48. Jackson Financial shares last traded at $80.19, with a volume of 82,979 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on JXN. Keefe, Bruyette & Woods raised their target price on Jackson Financial from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Friday, February 28th. Barclays raised their price target on Jackson Financial from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $97.40.

Jackson Financial Stock Performance

The firm has a 50-day moving average price of $89.53 and a 200 day moving average price of $92.77. The firm has a market capitalization of $5.99 billion, a PE ratio of 7.21 and a beta of 1.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.

Jackson Financial (NYSE:JXN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $4.65 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. Research analysts expect that Jackson Financial Inc. will post 20.55 earnings per share for the current year.

Jackson Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This is a positive change from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 3.88%. Jackson Financial’s dividend payout ratio (DPR) is 27.95%.

Insider Activity at Jackson Financial

In related news, CEO Scott Romine sold 7,000 shares of Jackson Financial stock in a transaction on Friday, March 7th. The stock was sold at an average price of $84.43, for a total value of $591,010.00. Following the completion of the transaction, the chief executive officer now directly owns 85,276 shares in the company, valued at approximately $7,199,852.68. This trade represents a 7.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JXN. Empowered Funds LLC purchased a new position in Jackson Financial in the fourth quarter valued at $26,000. Quarry LP purchased a new stake in Jackson Financial during the 4th quarter worth about $28,000. World Investment Advisors LLC purchased a new stake in Jackson Financial during the 3rd quarter worth about $31,000. SBI Securities Co. Ltd. purchased a new stake in Jackson Financial during the 4th quarter worth about $44,000. Finally, Blue Trust Inc. lifted its holdings in Jackson Financial by 114.5% during the 4th quarter. Blue Trust Inc. now owns 798 shares of the company’s stock worth $69,000 after buying an additional 426 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

About Jackson Financial

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.