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

Jackson Financial Inc. (NYSE:JXN) shares 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 trading hands.

Wall Street Analysts Forecast Growth

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

Jackson Financial Trading Down 0.5 %

The stock’s 50 day moving average is $89.81 and its two-hundred day moving average is $92.86. The company has a market capitalization of $5.98 billion, a PE ratio of 7.18 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 data on Wednesday, February 19th. The company reported $4.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.72 by ($0.07). The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. As a group, sell-side analysts predict that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 an increase from Jackson Financial’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a yield of 3.89%. Jackson Financial’s payout ratio is currently 27.95%.

Insiders Place Their Bets

In other Jackson Financial news, CEO Scott Romine sold 7,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were 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. The trade was a 7.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Jackson Financial

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC acquired a new position in shares of Jackson Financial during the fourth quarter valued at about $26,000. Quarry LP acquired a new position in shares of Jackson Financial during the fourth quarter valued at about $28,000. World Investment Advisors LLC acquired a new position in shares of Jackson Financial during the third quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Jackson Financial during the fourth quarter valued at about $44,000. Finally, Blue Trust Inc. increased its holdings in shares of Jackson Financial by 114.5% during the fourth quarter. Blue Trust Inc. now owns 798 shares of the company’s stock valued at $69,000 after acquiring an additional 426 shares in the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

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.